Omnicom Completes Clemenger Buyout
The move gives Omnicom full ownership across its creative agency portfolio in the region, including TBWA, DDB, and BBDO agencies Clemenger and Colenso.
Clemenger Group CFO Adrian Ciabotti confirmed Omnicom has become “the 100% owner of our company” in a note to staff sent Friday afternoon and seen by LBB. He thanked shareholders and staff who have supported the Clemenger Employee Share Scheme, and called it a “defining part of who we are for more than 50 years”.
“Our partnership with BBDO and Omnicom stretches back more than five decades to 1972, when it first became a shareholder in Clemenger Group,” Adrian wrote.
“Around the same time, the Clemenger Employee Share Scheme was introduced, giving our people the opportunity to share directly in the success of the business.
“Over the years, we’ve built a strong, collaborative relationship with Omnicom and together we’ve celebrated growth, creativity and the incredible work of our agencies across Australia and New Zealand.
“There will be a moment to recognise and celebrate our extraordinary history that won’t be forgotten today nor in the future.”
Clemenger has operated a staff share scheme since 1973, giving all Australian and New Zealand employees of companies within the Group the ability to apply for shares. The scheme comprised 13.16% of shares spread out among approximately 350 employees. Shareholders approved the buyout on June 30th.
Omnicom’s BBDO Worldwide purchased a 35% stake in the Clemenger agency in 1972, which had increased to 86.84% before the buyout.
BBDO merged its Australian agencies Clemenger BBDO, CHEP Network, and Traffik to “put [their] arms around [the] business,” global boss Nancy Reyes exclusively told LBB revealed in February.
Former CHEP CEO Lee Leggetttook the top role, while Clems Melbourne alum Stephen de Wolf re-joined as CCO.
Other new additions to the leadership team include chief experience officer Suzanne Croxford and chief media officer Stuart Bailey. Former Clemenger BBDO CEO Nick Garrettwas confirmed as Omnicom Oceania CEO in July.
LBB has approached Clemenger for comment.
