Friday, September 28 10:49:03
Dublin-based full-service integrated marketing agency Acorn has been sold to the US independent marketing agency, Hyper Marketing (HMI) for an undisclosed sum.
The acquisition will position the agency as the Dublin hub for a larger European expansion programme, the new owners said.
"Our agile network and focus on marketing that drives profitable transactions, while building brand value, have clearly resonated with marketers in the U.S," said Hyper Marketing CEO Zain Raj. "Now we are taking this approach to Europe to continue serving our global brand partners."
The Dublin agency, which will continue to do business under the Acorn name, will partner with the other marketing-services firms in the Hyper network. Acorn's management team, CEO Phil Cottier and Managing Director Estelle Gorby will lead the business.
The network plans to open additional offices in London, Brussels and Geneva in the next two years and the number of Acorn employees is expected to double from over 50 today to about 100 people in the next two years. Hyper Marketing currently has 1,100 employees in 23 American offices.
"We have grown this business aggressively over the past two years by delivering cutting edge creativity with a strong focus on measurable results - this is what clients expect and what we deliver on," said Mr Cottier. "Our success has allowed us to expand beyond the Dublin market and work on a pan-European basis. With the backing of Hyper Marketing, our expansion can continue at a quicker pace".
Acorn was founded in 2006 by Frank McCaughey, who now serves as non-executive chairman.
Mr Cottier joined the business from Publicis UK in 2011 and has spearheaded the growth of the business into new markets. Mr Gorby has been with the agency since inception.
Acorn has developed award-winning campaigns via TV, print, online, direct marketing and outdoor channels for clients including Google, Dell, 123.ie, RSA, Bank of Ireland, Molson Canadian and Windsor Motors. It has been named "Agency of the Year" for the past two years (2012 and 2011) by An Post Integrated Direct Marketing Awards, one of the most prestigious marketing industry awards in Ireland.