LOWE GRABS A PIECE OF ROCHE
By Adnews Staff
U.S.-based Lowe Group has bought a minority stake in Roche Macaulay & Partners Advertising of Toronto, and has merged the agency with its Lowe/SMS Toronto office. The new agency will continue to operate under the name Roche Macaulay & Partners Advertising. It will be headed up by president Geoffrey Roche and senior vice-president Andrew Macaulay. Chairman Edward Roncarelli will continue on as advisor. Lowe chairman and creative director Gary Prouk has left the agency and is currently deciding his next move. The move effectively doubles Roche's size. Each agency has billings of about $40 million. Roche said in a press conference yesterday that he won't be losing any of his independence because his agency is keeping majority ownership."We have majority control so we're able to keep the structure and style of work the same. I wouldn't have done this had this not been the way," he said. When asked if there was an option for Lowe to buy a majority stake in the agency, Roche said that if it made sense to do so in the future, he would be open to it, but it's not in the immediate future and it's not in the contract. Lowe has agencies in 30 countries. In Toronto its client list includes: Braun, Mercedes-Benz, Ralston Purina, Western Union and Ault Dairies Ltd. Roche's clients include the Royal Bank of Canada, IKEA, Petro-Canada, Pharma Plus and the Canadian Egg Marketing Agency.