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NEW YORK Japanese company Hakuhodo has bought a 49 percent stake in McCaffery Ratner Gottlieb & Lane after courting the agency since March, shop president William McCaffery confirmed.
While the sale allows Hakuhodo to broaden its U.S. offerings, the alliance will give MRGL the chance to tap into Asian markets, McCaffrey said. Hakuhodo also owns a stake in Mendelsohn|Zien Advertising in Santa Monica, Calif.
“We always worked on more large-agency-scale accounts for what, in today’s terms, is a smaller agency,” McCaffery said.
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