Dentsu Aegis Network Acquires Sri Lankan Ad Agency, Grant Group
Dated: March 30, 2017
Dentsu Aegis Network has announced that it has signed a definitive agreement to acquire Grant Group, largest independent creative agency and a pioneer of advertising in Sri Lanka. The acquisition of the 59-year-old integrated agency is Dentsu Aegis Network’s first foray into the island nation and one of the largest agency groups to enter the market in nearly two decades. The other Grant entities will integrate with Dentsu’s global network and provide expertise in the Sri Lankan market. The entities include Response Marketing, a second creative agency, RN Media, an OOH agency, Grant Public Relations, a reputation management firm, Juice Productions, content creation studios and Magnetic, the digital business.
Nick Waters, CEO of Dentsu Aegis Network, APAC, said, “With social and economic stability in the country, Sri Lanka is set to reap the peace dividend. Significant foreign investment is already flowing into the country, and with strong historical ties to Japan, there is a natural opportunity for Dentsu Aegis Network clients to grow. Grant represents a unique opportunity as a top quality advertising and communications group to get into a strong position in a fast-growing market.”
Ashish Bhasin, Chairman and CEO of Dentsu Aegis Network South Asia, said, “The acquisition of Grant Group is a key step in the Dentsu Aegis Network South Asia strategy and will launch our business in a market with significant potential. Through the Grant Group, we have a unique opportunity to enter the market with a bang and will be amongst the largest integrated groups in the country.”
“Grant is a well-established family-owned business with solid heritage and legacy, and Neela is a highly recognized personality in the corporate sector for her deep insight in the marketing communications arena and also for her work across women’s empowerment, conservation and sustainability. The group’s long standing relationships with their key clients, some over 50 years, also show that they have successfully built an incredibly strong network and trust from the clients,” he added.
Post-acquisition, Grant Advertising will be known as Dentsu Grant while Grant Media will join Dentsu Aegis’ global media network brand, Carat. Other global agency brands within the network will integrate with their strong local agency counterparts to grow the business further adding value to their clients and their staff.