Interpublic’s Lowe & Partners has completed its deal to boost its Australian operations by buying 51 per cent of 303, formerly Australia’s biggest independent agency.
The agency will be known as 303Lowe (don’t you wish word spaces would come back?) and be run by 303′s CEO Nick Cleaver (pictured), Sydney managing director Jon Mackie and executive creative director Simon Langley. 303 was founded in the rather unlikely environs of Perth (most Aussie agencies are based in Sydney).
Lowe Sydney CEO Stephen Pearson has left leaving the 303 crew firmly in charge. The new agency’s client list include Unilever (the foundation Lowe account), Johnson & Johnson, Harley-Davidson, Pepsico, Fujitsu, Ikea, CashConverters, The Travel Corporation and Cerebos.
Cleaver says: “It was really important to us that we retained a significant stake in the business and that there is a long-term option for us to maintain a broad-based local ownership.
“We believe 303Lowe will provide tremendous opportunities for our people and a substantial resource base from which to service our clients.”