NEW YORK Omnicom Group's Diversified Agency Services division has acquired marketing shop Colangelo.
The 13-year-old agency in Darien, Conn., specializes in online and offline promotions, interactive services, direct marketing, special events, point-of-sale efforts and package design. It has worked with clients including Diageo, Kraft, Schick and Trojan. Colangelo maintains a satellite office in Chicago, and employs 155 staffers overall.
CEO Rob Colangelo, 41, will continue in that role and reports to Tom Harrison, chief executive of Omnicom's DAS.
In a statement, Harrison described Colangelo as, "Ahead of many in the industry and is continuously mastering new, innovative and relevant marketing and communications ideas across all disciplines under one roof."
Financial terms were not disclosed.
As part of DAS, Colangelo joins a network of 175 companies such as GMR, Javelin, Ketchum and Rapp Collins.
"While we continue to celebrate our agency's history with our long-standing client partners and employees, we are very much looking forward to beginning a new chapter as part of Omnicom and DAS," Rob Colangelo said. "It's the best of both worlds. We can now provide our clients with all the autonomy of an independent agency and all the benefits of the largest and most respected agency network in the world."
The acquisition comes the same week that Omnicom reported a third-quarter net income increase of 9.5 percent to $177 million on a 10 percent revenue gain to nearly $2.8 billion, compared with the same period a year ago.
The world's largest holding company made two U.S. acquisitions in the third quarter: St. Louis ad agency Rodgers/Townsend and digital shop EVB in San Francisco [Adweek Online, Aug. 10].