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Grey buys Tank
By Adnews Staff
Grey Group of New York has acquired Tank, a Montreal-based agency specializing in healthcare and consumers communications. Tank will become a division of Grey Canada, but will continue to operate under its own name. Tank president Marc Lanouette will become CEO of Grey Group Canada. The agency's current management will continue to oversee operations.
"This acquisition reinforces our longstanding commitment to expand our capabilities and critical mass in the Canadian market, especially in Quebec, as well as in the important healthcare sector," said Michael Houston, global president and CEO of Grey North America. "Marc Lanouette, who takes the helm of Grey Group Canada, has built a premier healthcare agency serving blue-chip clients with world-class strategic and creative brand-building expertise. We intend to build Tank's footprint in the US, Europe and Asia beginning in 2017."
Tank was founded in 2007 and has a staff of 120 people. The company's net revenues for the fiscal year 2016 were $14 million. Its clients include AbbVie, BMS, Pfizer, Eli Lilly, Lundbeck, Telus Health, the Department of Canadian Heritage and Caisse de depot.