Publicis buys Israel's BBR Group
JERUSALEM, June 18 |
JERUSALEM, June 18 (Reuters) - Advertising agency Publicis Groupe said on Monday it acquired Israeli advertising and communications firm BBR Group in a move aimed at deepening its operations in Israel.
Terms of the deal were not disclosed.
Publicis said the transaction follows 15 years of collaboration with BBR through BBR affiliates. All of BBR's agencies will remain independently managed, it noted.
"The time is right for us to get even closer and cement our partnership through ownership which makes us one of the leaders in Israel," said Maurice Levy, chairman and chief executive of Publicis.
BBR's founder and chairman, Yoram Baumann, has been appointed country chairman for Publicis Groupe in Israel.
Publicis has had a presence in Israel through its agencies Publicis Geller Nessis, Leo Burnett, Edologic and Superpush. The deal to buy BBR, it said, creates one of the country's leading communications groups, with over 400 employees in 23 offices and networks including Saatchi & Saatchi, ZenithOptimedia, Leo Burnett and Publicis Worldwide. (Reporting by Steven Scheer)
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