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Korean Agency Buys 49% of UK's #1 Creative Shop

News, 03 December 2008

SEOUL: South Korean agency Cheil Worldwide has taken a 49% stake in Beattie McGuinness Bungay, ranked by Campaign magazine as the the UK's leading creative shop in terms of cumulative new business wins.

Cheil. led by former group ceo of Leo Burnett UK Bruce Haine, has 36 offices in twenty-nine countries and is the global agency of record for Samsung Group and its affiliates – one of which holds a 13% stake in the network.

Says BMB partner Trevor Beattie (pictured above), famed as much for his self-promotional chutzpah as his creative skills: "This is a giant leap forward for BMB. It's beyond our wildest imaginations that we'd find ourselves in this position just three and a half years after starting out.

"The chance to team up with Cheil and take what we've all worked so hard to build onto a global stage is irresistible. We can't wait to get started."

His enthusiasm is reciprocated by Haines: "We've watched with admiration how BMB have built their UK business and are delighted that we can work with them to build their brand into one that is globally recognized."

The terms of the deal remain undisclosed, although it is thought that Chiel has an option to acquire the remaining shares in BMB in appropriate circumstances.

Data sourced from multiple origins; additional content by WARC staff