Cheil Worldwide acquires McKinney
World’s Most Effective Independent Ad Agency McKinney to Play Central Role in Global Network’s Reinvention
SEOUL, South Korea, July 31, 2012 — Today, Cheil Worldwide, one of the world’s leading marketing communications networks, announced the acquisition of Durham, N.C.-based ad agency, McKinney, effective immediately. McKinney, recently named the most effective independent advertising agency in the world by Effie Worldwide, will play a central role in the reinvention of Cheil’s network in the Americas and beyond.
“Cheil Worldwide is becoming a global integrated marketing communications network made up of the best local ad agencies in the world,” said Cheil Worldwide CEO Nack-Hoi Kim. “We are thrilled to partner with McKinney, one of the world’s most creative and effective integrated ad agencies, to offer a significantly strengthened network of services to existing clients and to win new clients in the world’s largest ad market. With a shared passion for integrated ideas that move the needle for clients’ business, I’m confident McKinney will drive Cheil’s success worldwide.”
Led by CEO Brad Brinegar, McKinney will maintain its name, its leadership team and headquarters in Durham, N.C., in a space designed to bring people together to inspire big ideas that now have global reach.
“After four years of charting our own course and producing unprecedented results for our clients, we couldn’t pass up this golden opportunity to be better, bigger, faster,” said Brinegar. “Cheil’s enthusiasm for McKinney’s independent spirit and the opportunity to help write the future of the global network sealed the deal. Though we’re from different parts of the world, we share the language of success — ‘tuhon,’ the relentless drive to achieve extraordinary results despite all obstacles.”
McKinney becomes part of Cheil Americas, a regional network of agency partners led by CEO Buz Sawyer. McKinney will join Cheil USA, Cheil Canada, Cheil Mexico, Cheil Central America, Cheil Brazil and The Barbarian Group to help brands add value to people’s lives with ideas that move seamlessly across channels.
“This isn’t just another financial transaction in a summer of consolidation, though Cheil will provide McKinney with rocket fuel to take their business to the next level,” said Sawyer. “I’ve found a soul mate in Brad Brinegar, and McKinney is the ideal strategic partner to reinvent Cheil’s network in the Americas and beyond. Together, we will take a fresh approach to growing an agency network, with an ‘open-source’ model based on partnership, collaboration and a shared vision for growth.”
David C. Wiener & Company served as financial advisor to Cheil Worldwide in the transaction. McKinney was represented by PALAZZO.
For more information, please visit: http://press.mckinney.com
About Cheil Worldwide: Cheil Worldwide Inc, is Korea’s largest and one of the world’s leading marketing communications networks. Established in 1973 with headquarters in Seoul, South Korea, Cheil operates 51 offices in 28 countries with about 3,000 employees. Cheil offers a full portfolio of marketing communications services including advertising, PR, sports marketing, exhibition and display production, and production of large-scale performance events.
About McKinney McKinney was recently named the most effective independent advertising agency in the world by Effie Worldwide and WARC. Over the past year, McKinney has won 44 major industry awards including five Effies, a Cannes Cyber Lion, six One Show Pencils, seven IAB MIXX Awards, a Webby and best-in-show website at the OMMA Awards. Founded in 1969, Durham, NC-based McKinney is recognized for one of the most innovative business models in the industry, focused on big ideas brought to life in powerful conversations between people and brands. McKinney has also been recognized as one of the best U.S. agencies, one of the “Best Places to Work in Marketing & Media” by Advertising Age, and one of a handful of agencies setting the standard for creativity by One Magazine. The agency’s clients include Nationwide Insurance, Nationwide Financial, CenturyLink, Sherwin-Williams, Mizuno USA, Gold’s Gym, Meijer, Ruby Tuesday, Big Boss Brewing and Urban Ministries of Durham.
Cheil Worldwide Soomee Moon +82-10-3702-7867 [email protected]
Cheil Americas Rachel Hammerman 1-314-322-5478 [email protected]
McKinney Janet Northen 1-919-313-4062 [email protected]