3x1 takes majority stake in McGarvie Morrison Media
Public relations firm 3x1 has taken a majority stake in rival McGarvie Morrison Media.
The two Scottish businesses will continue to operate independently, but control of the smaller MMM has been handed to 3x1 founders Julie McGarvey and Cameron Grant.
While the price of the controlling stake has not been revealed, Grant said that it would help 3x1 achieve over £2million in turnover this year.
MMM founder Lindsay McGarvie will stay with the firm. He said: “3x1 is a company that I have admired from my days as a journalist and I am delighted that MMM is to become part of the 3x1 group. This will help to further strengthen MMM, which is great news for our clients.”
John Morrison, a director of MMM, has left the business to pursue other interests.
Grant said: “With Lindsay and his team’s public affairs, corporate PR and media training expertise, this acquisition underlines our commitment to being able to provide our clients with the highest-quality service in Scotland and further afield and builds on the launch of our digital, sport and food and drink divisions in 2011.”