BEIRUT: The Memac Ogilvy and Ogilvy & Mather advertising agencies have further strengthened their ties, with the international group taking a majority stake in the regional agency.
The deal announced Wednesday also sees Memac Ogilvy founder Eddie Moran take a seat on the Ogilvy & Mather Worldwide Board.
“The Middle East and North Africa are areas of unique opportunity in the marketing communications business,” said Miles Young, worldwide chairman and CEO of Ogilvy & Mather. “This is the right time for us to recognize that, and jointly and aggressively execute our plans to build the network here.”
Founded in Bahrain in 1984, Memac Ogilvy has been associated with Ogilvy & Mather since 1986, with the worldwide group holding a minority stake for over 18 years.
“For nearly 30 years, we have enjoyed a long, creative and successful relationship with Memac Ogilvy,” Young said. “In that time, Eddie has built a fabulous agency which is doing leading-edge work for many local, regional and international brands.”
Memac Ogilvy has accounts for more than 150 brands and employs over 570 people in 14 offices.
“The values and spirit of Memac and Ogilvy are a natural match,” Moran said.
“We are one network offering clients in the region the full slate of integrated marketing communications services.”
A version of this article appeared in the print edition of The Daily Star on March 14, 2014, on page 5.