CHI and Stead sign deal to buy Rapier
CHI & Partners Holdings has completed its deal to acquire a joint stake in Rapier along with Jonathan Stead, the agency's chief executive.
However, the relaunched Rapier, which fell into administration last month, has been unable to secure a deal to retain its 40 per cent stake in McCormack & Morrison.
The digital agency, which has clients including Virgin Active and Royal Caribbean International, is close to completing a deal to buy back the 40 per cent stake that Rapier acquired in 2009 from the administrators.
McCormack & Morrison will then look for another agency to acquire a minority stake in the business.
Rapier, which went into administration after a series of account losses, will relaunch as a new agency trading as Rapier Communications.
Talks continue with staff over their redundancy pay and the number of employees transferring to the new business has yet to be finalised.
Click here to read the full story in this week's issue.Follow @SaraKimberley
This article was first published on campaignlive.co.uk
- Campaign Marketing Manager EMAP Competitive + Bonus, London (Greater) / London (East), London (Greater)
- Exhibition Designers WRG Live Competitive salary and benefits package dependant upon experience, Manchester, Greater Manchester
- Producer WRG Live Competitve salary and benefits package dependent upon experience, London (Central), London (Greater) / Manchester, Greater Manchester
- Content Manager WRG Live Competitive salary and benefits package, Manchester, Greater Manchester
- DIGITAL ACCOUNT MANAGER / £35K + Benefits Ultimate Asset £30000 - £35000 per annum, City of London
- Macmillan defends hijacking ice bucket challenge
- Comparethemarket.com first UK brand to run Facebook Premium Video ads
- Game Of Thrones actress stars in online Karen Millen campaign
- Twitter launches learning hub for agencies
- Guinness Africa launches 'made of black' campaign with Kanye West ad
- Uncle Ben's launches YouTube cooking show