Holmes Report 12 Mar 2014 // 9:40AM GMT
MANAMA—Ogilvy & Mather has increased its stake in Middle Eastern partner Memac Ogilvy, in which it has held minority ownership since 1998.
Memac Ogilvy's 14 offices span several countries in the Middle East and North Africa, employing 570 people and including the public relations unit led by Saada Hammad. Memac reported 2013 revenue of US$80m, with gross assets as at the same date of US$42.7m.
Founded in Bahrain in 1984, Memac has been Ogilvy's affiliate since 1986, before the WPP firm took a 40% stake in 1998. In addition to Ogilvy PR, the Memac Ogilvy group also includes the OgilvyOne, OgilvyAction, [email protected], Geometry Global and CB'a Memac brands, as well as holding partnership interests in Mindshare MENA, AMRB and MediaCom.
The deal comes after WPP bought a controlling stake in Kenya's Scangroup last year.