Havas sells back stake in Partners Andrews Aldridge

LONDON – Havas has sold its stake in direct marketing agency Partners Andrews Aldridge back to the founding partners Phil Andrews and Steve Aldridge, taking the agency back into independent ownership.

The agency was founded in 1998 as a joint venture between Andrews, Aldridge and Partners BDDH. Partners BDDH then merged into Euro RSCG last year. The partners, who were already major shareholders, now own the company 100%.

Managing partner Phil Andrews said that they approached Havas to sell back their share in the company following the reorganisation of the Arnold network into Euro RSCG. He clamed that the benefits of the shared ownership, no longer made sense.

Ben Langdon, chairman of Euro RSCG Worldwide UK, said: "As we did not have a controlling interest in Partners Andrews Aldridge and with our direct business now focused on EHS Brann, it makes perfect sense for us to focus on our main direct operation and sell our stake in Partners Andrews Aldridge."

Partners Andrews' current clients include Lloyds TSB and Lexus.

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