Creston bolsters creativity expertise with 18 Feet & Rising stake
Advertising network Creston Unlimited has acquired a minority stake in 18 Feet & Rising that will allow all its agencies to dip into the creative shop's above-the-line expertise.
The move will see the agency assume the title of 18 Feet & Rising Unlimited when working on shared campaigns for the group that could include projects for Diageo and Reckitt Benckiser.
Creston now has a 27 per cent stake in the agency and £1m of the cash payment for its shareholders will be pumped back into driving growth.
Jonathan Trimble, chief executive of 18 Feet & Rising, said: “Our partnership with Creston Unlimited and the access we gain will enable us to meet our clients’ evolving brand and business challenges fully, providing a truly stand-out offer in ourmarketplace.”
The investment is emblematic of 18 Feet & Rising's speed of growth and rising profile that has seen it amass a client roster of brands such as Nationwide, Nando's and Allianz since it began in 2010.
Founded by Trimble and Matt Keon, the agency joins Creston one year into its five year strategy. The business rebranded and snapped up brought in external expertise through acquisitions and partnerships in a attempt to carve out a clearer proposition for advertisers.
Barrie Brien, group chief executive of Creston, said: “I am delighted that one of the industry’s most creative and highly regarded advertising agencies is becoming part of the Group. Their brand building creativity, combined with their in depth understanding of the digital world will give us a truly compelling offer for our clients.”