As predicted [WAMN: 31-Aug-00], Springer & Jacoby, the Hamburg-headquartered agency handling Mercedes-Benz’ domestic business, has entered into a partnership with Chicago-based global network True North Communications.
The deal will see the formation of a new holding company in which True North will invest an initial 35.5% stake with an option to acquire additional shares. The balance of equity will be held by S&J, number eight in the German league table and the nation’s largest independent agency.
Although the terms of the partnership were not disclosed, True North’s investment and extant resources across Europe will enable S&J to expand across the continent in a bid to win further Mercedes-Benz business [a move that is unlikely to have happened without tacit encouragement from the client].
News source: New York Times