Dentsu Aegis Network ​enters Sri Lanka, to acquire Grant

30 Mar,2017

By A Correspondent

 

Neela Marikkar and Ashish Bhasin

Dentsu Aegis Network today announce​d​ it has signed a definitive agreement to acquire Grant Group, the largest independent creative agency and ​regarded as pioneer of advertising in Sri Lanka. The acquisition of the 59-year-old integrated agency is Dentsu Aegis Network’s first foray into the island nation and one of the largest agency groups to enter the market in nearly two decades.

 

​Said ​Nick Waters, CEO of Dentsu Aegis Network APAC: ​“With social and economic stability in the country, Sri Lanka is set to reap the peace dividend. Significant foreign investment is already flowing into the country, and with strong historical ties to Japan, there is a natural opportunity for Dentsu Aegis Network clients to grow. Grant represents a unique opportunity as a top quality advertising and communications group to get into a strong position in a fast-growing market.”

 

Post-acquisition, Grant Advertising will be known as Dentsu Grant while Grant Media will join Dentsu Aegis’ global media network brand, Carat. Other global agency brands within the network will integrate with their strong local agency counterparts to grow the business further adding value to their clients and their staff. ​Said ​Ashish Bhasin, Chairman and CEO of Dentsu Aegis Network South Asia​: “​The acquisition of Grant Group is a key step in the Dentsu Aegis Network South Asia strategy and will launch our business in a market with significant potential. Through the Grant Group, we have a unique opportunity to enter the market with a bang and will be amongst the largest integrated groups in the country.”
Steering the Sri Lankan leadership team is Neela Marikkar, Chairperson and Managing Director of the Dentsu Aegis Network Grant Group. She will report to Bhasin​.​

 

​Added Marikkar: “Given our long heritage in this market continuously staying ahead of the game, Dentsu Aegis Network’s cultural fit and best-in-class operating model are the right facets of a multinational partner to take our group and most importantly our clients and staff into a very dynamic future. More importantly given the growth in the market and the push towards digital, we need a strongly aligned and committed multinational partner with digital at its heart as brands grapple with the challenges of a changing media landscape. We are very excited to be able to tap on the network’s resources and work with the 38,000 great people at Dentsu Aegis Network. We are beginning a new chapter in the wonderful story of the Grant Group.” The deal is expected to close this week.

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