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NEW YORK Cossette Communications Group has bought a 51 percent stake in London ad agency MCBD and its direct marketing and sales promotion subsidiary Elvis in a six-year, three-part deal with an initial investment of $16.8 million.
The shop, which claims billings of about $57 million, handles clients that include BBC Worldwide, Cadbury, Diageo, Carnival Cruises and Tetley Tea. Jeremy Miles, Helen Calcraft, Paul Briginshaw and Malcolm Duffy helm the agency.
The agency has agreed to an earn-out based on financial performance over the next two years.
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