Omnicom Ups Its Clemenger Stake

Omnicom Group has reached an agreement to increase its stake in the Clemenger Group to become a majority shareholder. Clemenger ranks as the largest communications group in Australia and New Zealand.
 
The increased ownership allows BBDO to better utilize Clemenger’s capabilities across the Omnicom agency network. BBDO has been associated with Clemenger since 1973, when the agency became a minority shareholder.
 
“This move creates the opportunity to do more together, and grow faster. As a minority shareholder, it has not been in the interests of either party to extend the companies and individual talents that make up the group beyond the borders of Australia or New Zealand,” said Andrew Robertson, BBDO Worldwide’s CEO, in a statement.