CIA adds MarMedia Group to European offer in pounds 30m deal

CIA Group has completed the final link in its European network with the acquisition of the Scandinavian media specialist, MarMedia Group, in a pounds 30 million deal.

CIA Group has completed the final link in its European network with

the acquisition of the Scandinavian media specialist, MarMedia Group, in

a pounds 30 million deal.



MarMedia’s agencies, which trade as Media Marketing Group, are to be

rebranded as CIA Medianetwork. The purchase boosts CIA’s total billings

to more than pounds 1.4 billion for 1997.



The acquisition spans five offices in Sweden, Norway and Denmark.

MarMedia’s client portfolio includes Ikea, Nestle and Toyota.



CIA is paying a minimum of pounds 21.9 million and a maximum of pounds

29.6 million in cash and shares for the company, which CIA has been

trading with on an affiliate basis for several years. The two groups

share a number of clients, including Shell and Calvin Klein

Cosmetics.



Chris Ingram, CIA’s group chairman, said: ’We already had an

infrastructure in place on which to build a larger group, so the deal

with MarMedia will provide real economies of scale.’



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