Leagas Delaney plans separation from AMV

Leagas Delaney plans to cut its ties with its parent, the Abbott Mead Vickers group. It has hired a management consultant to value the business in preparation for buy out.

Leagas Delaney plans to cut its ties with its parent, the Abbott

Mead Vickers group. It has hired a management consultant to value the

business in preparation for buy out.



Bruce Haines, Leagas Delaney’s chief executive, and Tim Delaney, a

founding partner and the creative director, are believed to have

discussed the buy out with Peter Mead, AMV’s group chairman, and Michael

Baulk, the chief executive.



The catalyst for the buy out was Leagas Delaney’s win of an

international project for Coca-Cola’s Fanta last October. BBDO, which

owns 26 per cent of AMV, handles the Pepsi account worldwide and it was

unlikely the rival cola giants could be handled by two closely-related

agencies.



However, both Haines and Delaney are known to have wanted to buy the

agency, once an independent shop, for some time and be more than just

salaried employees of AMV.



Leagas Delaney is understood to have hired a KPMG accountant to put a

price on the company, and a corporate lawyer. He is seeking backers to

finance the purchase.



It is unclear whether the agency will exist as a standalone shop or link

up with another network. Haines and Delaney are known to have had

conversations with two international agency networks, one of which is

thought to be WPP.



Leagas Delaney won a place on the coveted Coca-Cola roster in October

last year (Campaign, 25 October) after a pitch for Fanta against

Publicis and DMB&B. The agency’s first work for the soft drink is

expected to break later this month.



Leagas Delaney was launched in 1980 by Tim Delaney and Ron Leagas. The

agency opened its first overseas office last year in San Francisco.



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