McConnells ad agency in talks on possible sale
Published 15/04/2010 | 05:00
IRELAND's most iconic advertising agency McConnells is in advanced talks with international agency giant DDFH&B and one other potential suitor about a possible sale.
McConnells' director Stuart Fogarty last night confirmed talks were "going on" with a number of agencies, but he insisted his company would "absolutely" survive if no deal was done.
It is understood that the talks involve DDFH&B and one other agency. Well-placed sources last night described the discussions as "advanced", with completion possible in a number of days. The parties are understood to have been talking to each other for less than two weeks.
It is understood that the deal will see the iconic McConnells brand retained for creative and the MCM brand retained for media buying.
McConnell's media buying arm MCM was previously being considered for a deal with international agency giant Publicis QMP. MCM became part of Core Media Group, the Publicis vehicle that allows all its media arms secure bulk discounts, last year.
MCM's involvement in Core ended a few weeks ago when it became clear a deeper relationship between Publics and McConnell's not on the cards.
Founded in 1916, McConnell's is arguably Ireland's most iconic advertising agency, with one leading industry figure last night describing it as our "Saatchi & Saatchi", in a reference to the famed London agency.
Along with Carat, McConnell's is also one of the only Irish agencies to remain without an international partner.
The sale manoeuvers come just months after McConnell's managing director Fiona Scott and a number of other senior executives departed to set up their own agency, 'Boys and Girls'.