Leagas Delaney Buys Independence From Abbott Mead

Managers of Adidas agency Leagas Delaney have bought their independence from parent Abbott Mead Vickers Group PLC, partly owned by Omnicom Group, in an estimated $6.5 million deal. The deal gives Leagas management 70 percent of the company. AMV owns 30 percent.
Leagas may now pursue accounts without conflicts with AMV or AMV’s minority shareholder, Omnicom agency BBDO. The split removes conflicts between Leagas client Coke (Fanta) in Europe and BBDO client Pepsi.
The new holding company, Leagas Delaney Group, will be controlled by a board headed by chairman and founder Tim Delaney and chief executive Bruce Haines.