PUBLICIS ACQUIRES FALLON MCELLGOTT, CREATES NEW NETWORK
By Adnews Staff
Paris-based Publicis Group and Minneapolis-based communications agency Fallon McElligott are teaming up to create a new worldwide branding network. As concurrent meetings were held at all Fallon McElligott offices, the two groups announced the agreement which finds Publicis Group acquiring 100% ownership of Fallon McElligott. Fallon McElligott however, will remain an independent agency retaining its name and management. Publicis will act as a holding company with two distinct networks independent of each other, Publicis Worldwide and Fallon McElligott. This allows the agency to act as a stand-alone brand from Publicis' other U.S. operations including: Publicis-Bloom and Publicis Hal Riney & Partners. As part of the agreement, Fallon McElligott's design and e-commerce subsidiary Duffy Design and Interactive, was also acquired. Financial details were not disclosed.