WCRS, which created the successful 1970s marathon runners campaign for 118 118, is held by Havas’ Arnold Worldwide Partners (AWP) division. Under the agreement management will take a 75% share in the business, with AWP retaining the remaining 25%.
It is unusual in the advertising industry for a company to be bought out this way. Traditionally, larger advertising networks, such as WPP, Havas and Publicis, are the ones to buy up smaller independent agencies.
Havas says that both parties believe that the deal will spur WCRS forward to achieve greater success, whilst Arnold retains a strong a presence in the ‘crucial’ UK market.
Following the completion of the management buyout, WCRS is expected to expand its range of activities. Reports suggest it could move in to public relations and design with a number of smaller acquisitions.
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