Listed marketing services group the mission has bought independent London agency Krow in a deal worth up to £14.5m over three years, based on performance.
Krow, which launched in September 2005, is listed as the UK’s 17th largest agency and has clients including DFS, Ferrero, Sky Vegas and Fiat, income of £8 million and a team of 65 people (many of whom are below).
Founders Barry Cook, Nick Hastings, John Quarrey, and Malcolm White, will continue to manage Krow, reporting to the board of the mission.
The mission owns 15 agencies across the UK including Bray Leino, Chapter, Story and 130-strong Bigdog which will move into Krow’s London HQ. Bigdog will be managed separately under James Clifton. The deal provides Krow with access to shopper, digital and data expertise.
The mission executive chairman David Morgan says: “We have admired Krow and its approach for quite some time and we are really looking forward to working with the team as part of the mission. Krow’s team members share our values and their position in the market, strategic expertise, creativity and strong senior team will complement our portfolio of agencies and increase our important foothold in London.”
Krow co-founder Barry Cook says: “The acquisition by the mission is all about building our capabilities and those of the group to meet future client demand. This is a rare and valuable opportunity to become part of a group that has such complementary people and services to those at Krow.”
