MDC BUYS STAKE IN U.S. FIRM
By Adnews Staff
Toronto-based MDC Communications Corp. has bought a majority interest in Margeotes/Fertitta And Partners of New York. "This acquisition is an important strategic step in expanding our presence in the marketing services industry in the U.S.", president and CEO Miles Nadal says in a release. Margeotes/Fertitta's client list includes Benckiser Consumer Products, Godiva Chocolatier, Hearst Corp., McGraw-Hill, Media One, the National Football League, Putnam Investments and United Distillers and Vintners. This is the second U.S. acquisition MDC has made this year. In May, the company bought a 75% stake in CyberSight, a provider of Internet-based marketing services. MDC provides specialty advertising such as healthcare, argribusiness and financial services, sales promotion and event marketing, public and investor relations, corporate image and design services, as well as publishing and information services.