The Mission Marketing Group snap up Chapter in £5m deal
The Mission Marketing Group has purchased Midlands-based advertising agency Chapter in a £5m deal, with £1.3m of that payable in cash on completion and the remainder subject to financial performance through to 2018.
This will bring a range of new clients to The Mission including Nissan, Yardley, Topps Tiles, Crowdcube, Calor and Virgin Trains as well as the recently acquired consultancy Bell and Watson, which delivers specialist digital marketing services.
David Morgan, executive chairman of the mission commented: "We have admired Chapter and its unique approach for quite some time and we are really looking forward to working with them as part of the mission. Chapter's team members already share a similar culture to us, making this a perfect fit. Their strategic expertise, creativity and strong team will complement our portfolio of Agencies and our shared knowledge can only strengthen Chapter's ethos of Sharper & Better."
Mike Rose, managing director of Chapter added: "Our culture has been a massive part of what makes Chapter different so we are impressed with how the mission allows its agencies to stand alone and operate independently within the supporting strength of the group.”
Chapter posted a turnover of £1.9m in the 12 months to 31 March 2014, with profits of £0.4m and assets of £1m.