TBWA has paid over £12 million for one of the leading names in advertising, Simons Palmer Clemmow Johnson. The deal will create a £120 million-billing agency. The new super-agency will operate from TBWA’s offices in Kings Cross. The new operation will be called TBWA/Simons Palmer.
The current Chairman of Simons Palmer, Paul Simons is to be Chief Executive; he is the biggest single shareholder. Jonathan Hoare, Chairman of TBWA ,will retain his title in the new set-up. Simon Palmer will be the Executive Planning Director.
Paul Simons, commented: “We have considered various future strategies, and this is, by far, the most relevant and exciting option. We would like to take our approach and success on to a bigger stage. TBWA’s strongly creative culture is totally compatible with ours, our client list meshes perfectly, the worldwide resource fits our needs and we believe that we can build an unbeatable operation in London.”
Client clashes between the two separate agencies are minimal and the new joint agency is not expecting to lose many clients over the deal.
TBWA:0171 833 5544
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