Ad agency adam&eve has been acquired by DDB UK, with the two to merge in a month to create a new agency, adam&eve/DDB.
The adam&eve founders will have key roles in the enlarged agency: James Murphy will be chief executive, Ben Priest will be executive creative director, David Golding will be chief strategy officer and Jon Forsyth will be chief communications strategy officer.
Stephen Woodford, DDB chairman and CEO will be chairman of the new agency; while Emer Stamp and Ben Tollett will be executive creative director.
Woodford said: “I am delighted that adam&eve have decided to join forces with DDB. I really like them as people, I’ve admired their work since the agency started and the fit between our 2 agencies could not be better in terms of values, talent and clients. Together we will build on the energy and entrepreneurialism of London’s best start-up, by adding DDB’s scale of resources and talent, driven by the creative passion that unites both businesses.”
The adam&eve founders added: “It is both an honour and an incredible opportunity to be uniting adam&eve with DDB. We have worked tirelessly with an outstanding team to build a successful and creatively regarded communications agency serving big, blue-chip and respected clients. We intend to continue doing so as we lead adam&eve/DDB into a new period, energised with a sense of entrepreneurial drive and creative energy. Our two agencies share a similar culture, ambition and purpose. Together we can unleash the potential of both. It’s a truly exciting moment for us, for our new colleagues and for the UK advertising industry.”
Terms of the acquisition are confidential, but it is estimated at between £50-£60m.
Clarity advised adam&eve on the transaction.