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Asda Featherbrooksbank Aegi

MediaVest Manchester to be bought by Aegis?

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By The Drum Team, Editorial

March 17, 2011 | 3 min read

Manchester media buyer MediaVest could be bought out by marketing giant Aegis Media according to reports circulating this morning.

The mooted acquisition follows Aegis agency Carat picking up Asda's regional media account from Brilliant Leeds.

There is speculation that London-based Carat wants to service the business from the North, though it already owns Feather Brooksbank which has an office in Manchester.

It is unclear where this would leave Feather Brooksbank. At the time of writing both founders Stuart Feather and Giles Brooksbank were in London and unavailable for comment.

MediaVest's majority shareholders are Dave Lucas and Andy Jeal (pictured). Publicis has a 19.9 percent stake in the business.

According to MediaVest's last financial results its turnover was £168m with a profit of £7m.

The Drum is awaiting a response from MediaVest and Aegis at the time of writing.

Meanwhile, Aegis has announced an operating profit for 2010 of £192.2 million for last year, an increase of 12.9 percent on 2009 and a pre tax profit of £162.4 million.

As a result, the company has said that it expects organic revenue growth for 2011.

Jerry Buhlmann, CEO of Aegis, said: "Aegis had a good year in 2010, delivering strong results as our two businesses outperformed their markets. At the same time, we took significant steps in delivering on our objectives of repositioning Aegis Media and Synovate in their dynamic markets while making good progress in increasing our exposure to both faster-growing regions and digital media. Our work to strengthen our financial position meant Aegis was able to make a number of investments and acquisitions, extending our capabilities and positioning us to drive further growth.

"Looking ahead, despite limited medium term visibility, we have started 2011 with increased confidence. We have a refocused strategic approach under a strengthened management team and the positive momentum from last year at both Aegis Media and Synovate has continued into 2011. While we expect to continue to face a demanding and competitive market environment, Aegis is well placed to make continued strong progress."

Asda Featherbrooksbank Aegi

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