Don Elgie’s UK mini-marcoms outfit Creston reveals six per cent Havas stake

Havas boss David Jones is sticking to his policy of shopping in the bargain basement of marcoms land, with Don Elgie’s Creston mini-marcoms outfit revealing that the French-owned firm has bought six per cent of its shares.

News emerged of Havas stakebuilding over the weekend.

Creston, whose shares have risen accordingly, is now valued at about £43m so a bid wouldn’t stretch Havas resources. Jones said a while back that he had $750m to invest and, although he has a made a number of smallish acquisitions recently, including controversial US crowd-sourcing agency Victors & Spoils, there is still plenty left in the pot.

Creston has done well to survive as long as it has in a market buffeted by the financial crisis. A couple of years ago it sold flagship ad agency DLKW to Lowe & Partners for about £20m, investing the money in digital firms and high-margin healthcare marketing.

Havas itself is thought to be on the menu for marcoms land’s bigger carnivores, looking a likely target for US giants Omnicom and Interpublic, the latter itself a target for Publicis Groupe according to some accounts (including ours).

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