Dentsu Aegis Network acquires SL ad industry pioneer, Grant Group
View(s):Dentsu Aegis Network this week announced the acquisition of a majority stake in the Grant Group, the largest independent creative agency and the 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.
In a media release, Nick Waters, CEO of Dentsu Aegis Network APAC, said: “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.”
Established in 1958 by Reggie Candappa as the country’s first-ever international advertising agency, the Grant Group today is an award winning agency with 150 people spread across seven entities under two main groups: Grant Advertising – which comprises Grant Advertising and Grant Media, and Grant Agencies which is made up of Response Marketing a second internationally-renowned creative agency, RN Media a pioneering OOH agency, Grant Public Relations a leader in reputation management, Juice Productions content creation studios and Magnetic a growing digital business.
Post-acquisition, Grant Advertising will be known as Dentsu Grant and align with Dentsu creative agencies across the network
Ashish Bhasin, Chairman and CEO of Dentsu Aegis Network South Asia, said: ““Grant is a well-established family-owned business with solid heritage and legacy, and Neela (Marikkar) is a highly recognized personality in the corporate sector for her deep insight in the marketing communications arena and also for her work across women’s empowerment, conservation and sustainability”.
Steering the Sri Lankan leadership team is Ms. Marikkar, Chairperson and Managing Director of the Dentsu Aegis Network Grant Group. She will work with Mr. Bhasin.
“We are very excited to be able to tap into 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,” Ms Marikkar said.