Ogilvy & Mather acquires majority stake in Memac
WPP owned communications agency Ogilvy & Mather has bolstered its Middle East and North African presence after acquiring a majority stake in regional agency Memac Ogilvy.
The Bahrain based business was founded in 1984 and has been associated with Ogilvy & Mather since 1986, with the latter became a minority shareholder in 1998.
The Memac Ogilvy Group incorporates OgilvyOne, OgilvyAction, Ogilvy Public Relations, neo@Ogilvy, Geometry Global and CB’a Memac brands, as well as holding partnership interests in Mindshare MENA, AMRB and MediaCom.
These serve over 150 brands in the region including Almarai, Coca-Cola, Arab Bank, IBM and American Express, from 14 separate offices.
Unaudited revenues for the year ended 31 December amounted to $80m.