Dentsu to acquire Happy Creative for Rs 200-300 crore
MUMBAI: International advertising firm Dentsu Aegis Network is set to acquire Happy Creative Services, a Bengaluru-based creative agency best known for its work on brands like Flipkart, Ola and Diesel. The size of the deal could be between Rs200 crore and Rs300 crore, industry sources said. Dentsu Aegis Network (DAN) has signed a definitive agreement with Happy’s co-founders Kartik Iyer and Praveen Das. The development coincides with DAN’s plan to launch Dentsu-owned global creative agency mcgarrybowen in India. Post the acquisition, the two will be merged and launched in India as Happy McGarryBowen.
Iyer and Das will join DAN’s leadership team and report to Ashish Bhasin, chairman of Dentsu Aegis Network-South Asia. The acquisition will strengthen DAN’s creative offering in the market and also mark the entry of the first mcgarrybowen agency in India and see its expansion in Asia, with offices in Singapore, Hong Kong and China.
“Happy has carved out a very strong digital and creative reputation in the Indian market,” said Bhasin. “This acquisition will add creative bench strength to the wider team. This will enable us to launch mcgarrybowen in India.” Established in 2007, Happy is regarded as one of the most promising independent creative agencies in India. It boasts a staff of 100 across three disciplines—brand design, integrated brand communication and digital. From launching Diesel in India to conceptualising ‘Post Card’ commercial for ‘Incredible India’, Happy has consistently built its creative reputation. Some of its big wins across Indian and international festivals include the children’s campaign for Flipkart and other new-age brands like Ola, Myntra and FreshMenu.
“It has taken us a good nine years to come this far in terms of talent, business and reputation,” Iyer and Das said in a statement. “There comes a time in every business to take a big leap to propel it to the next level and being a part of Dentsu Aegis and mcgarrybowen supports this growth ambition and provides us with the right platform.” Japanese media giant Dentsu-owned DAN has been looking at expansion in the Indian market via acquisitions as it aspires to be the second largest agency group in India by the end of 2017.
Iyer and Das will join DAN’s leadership team and report to Ashish Bhasin, chairman of Dentsu Aegis Network-South Asia. The acquisition will strengthen DAN’s creative offering in the market and also mark the entry of the first mcgarrybowen agency in India and see its expansion in Asia, with offices in Singapore, Hong Kong and China.
“Happy has carved out a very strong digital and creative reputation in the Indian market,” said Bhasin. “This acquisition will add creative bench strength to the wider team. This will enable us to launch mcgarrybowen in India.” Established in 2007, Happy is regarded as one of the most promising independent creative agencies in India. It boasts a staff of 100 across three disciplines—brand design, integrated brand communication and digital. From launching Diesel in India to conceptualising ‘Post Card’ commercial for ‘Incredible India’, Happy has consistently built its creative reputation. Some of its big wins across Indian and international festivals include the children’s campaign for Flipkart and other new-age brands like Ola, Myntra and FreshMenu.
“It has taken us a good nine years to come this far in terms of talent, business and reputation,” Iyer and Das said in a statement. “There comes a time in every business to take a big leap to propel it to the next level and being a part of Dentsu Aegis and mcgarrybowen supports this growth ambition and provides us with the right platform.” Japanese media giant Dentsu-owned DAN has been looking at expansion in the Indian market via acquisitions as it aspires to be the second largest agency group in India by the end of 2017.
