Cheil Worldwide has acquired boutique creative agency Bravo Asia—with offices in Hong Kong and Shanghai—which will become part of a newly formed Cheil China Group.
Bravo joins the Seoul-based company’s other regional operations, Cheil China and digital shop OpenTide Greater China. Bravo remains a stand-alone brand within Cheil China Group, which will be run by Aaron Lau, the president and CEO of Bravo. Bravo works for clients like Minute Maid, Moet Hennessy Asia Pacific and New Balance Asia Pacific.
Bravo is the latest acquisition for Cheil as South Korea’s largest ad agency expands beyond its home market. Last month, the company bought Durham, N.C. agency McKinney in an estimated $50 million deal. In 2009, Cheil acquired OpenTide Greater China and made investments in The Barbarian Group, New York and in 2008 London agency Beattie McGuinness Bungay.