It doesn’t look as though the corporate lawyers will be getting home for Christmas this year, bids and deals are beginning to flow in the ad industry at last.
Toronto-based MDC Partners, owner of Crispin Porter + Bogusky and Kirschenbaum Bond Senecal & Partners to name but two, has bought a minority stake in hot Los Angeles agency 72andSunny.
Apart from being named after the LA weather forecast, 72andSunny has earned a strong creative claim to fame since it was set up by former Wieden & Kennedy executives John Boiler, Glenn Cole and Robert Nakata in 2004. Its clients include Hewlett-Packard, BlackBerry, Discovery and K-Swiss. The agency also has an outpost in Amsterdam.
The really intriguing issue is MDC itself. The marcoms company has completed a flurry of deals this year which have increased its footprint greatly but also added to its debts.
Although CEO Miles Nadal denied a Deutsche Bank report earlier this year that MDC itself was up for sale he was careful not to close the door completely, observing that his shareholders’ interests came first.
The jewel in the crown is Crispin Porter, recently appointed to big chunks of Kraft business including Milka and Jello. Kirshenbaum Bond has also recently won the task of handling BMW’s return to the high stakes Super Bowl arena, leading to speculation that it may replace GSD&M Idea City as the German car maker’s number one agency worldwide.
So any really big marcoms company wanting to buy a gaggle of creative agencies could do worse than look at MDC Partners.