Cheil Acquires Majority Stake in Barbarian Group
South Korean Shop Gets Digital Cred as It Expands U.S. PresenceBy: Nick Parish, Published: Dec 02, 2009
NEW YORK (AdAge.com) -- A digital darling for the past five years, The Barbarian Group will become part of South Korean network Cheil Worldwide in a deal that has Cheil taking a majority stake in the boutique agency.
The deal, which was first reported as being done last month -- something denied by Barbarian -- opens up a new chapter in both companies' stories. Terms were not disclosed.
Cheil acquires a major digital innovator and a respected creative shop, which gives it another push into legitimacy as a global player. Wooing Barbarian, which other holding companies have also looked at, is the latest in a string of pickups for the company, with the recent addition of Beattie McGuinness Bungay in the U.K. and New York.Read the full story on AdAge.com