NEW YORK and LONDON, March 6, 2012 /PRNewswire/ -- Interpublic Group of Companies, Inc. today announced it has acquired London-based FRUKT Communications, one of the world's leading strategic and creative music and entertainment agencies. Octagon is Interpublic Group's sports and entertainment leader. The terms of the transaction were not disclosed.
"The acquisition ofFRUKT further strengthens Octagon's industry leadership in the global entertainment marketing business and strengthens its global reach," commented Harris Diamond, CEO ofInterpublic's Constituency Management Group, which includes Octagon. "Our clients will benefit from this expanded focus to connect and engage with the passions of sports and entertainment fans across multiple platforms."
Established in 2001, FRUKT has helped leading brands such as Coca-Cola, Southern Comfort, Diesel and Starwood Hotels build and keep on-going dialogue with consumers through their passion for music and entertainment platforms. The acquisition will allow FRUKT to fast track its international growth and diversification into broader entertainment sectors.
Octagon Worldwide CEO and President, Rick Dudley, put the acquisition into perspective. "Our ongoing investment in the entertainment and music space over the past several years has successfully resulted in Octagon offering clients a unique blend of strategy, consumer insights and creative thinking based on our successful sports formula. The FRUKT acquisition adds tremendously to Octagon's unmatched and comprehensive entertainment marketing services and strengthens our Octagon Entertainment Group."
FRUKT will retain its brand and unique culture and immediately begin collaborating with existing Octagon Entertainment Group entities which include:
- Octagon's music and entertainment consulting unit which has created and activated strategic sponsorship programs for brand leaders including Bank of America and MasterCard;
- Octagon's talent management experts in music, entertainment and television;
- Octagon's entertainment content development and packaging team;
- Octagon First Call, experts in talent procurement and activation;
- Octagon Access, leaders in multicultural and lifestyle marketing;
- Rogers & Cowan, the venerated music and entertainment marketing and PR firm whose clients include The GRAMMYS, Coca-Cola and Microsoft.
Dudley described the pairing as a great fit. "The FRUKT team is a highly-disciplined, strategic and creative team offering counsel and activation services to the corporate sector. They have a keen understanding of how companies can leverage fans' passions for music and entertainment. They are as analytical as they are creative in their approach to problem solving. Entertainment has been a major area of investment for us, and we see a great opportunity for growth with this acquisition," he said.
FRUKT's co-founders cited further reasons why the fit is highly compatible. "We have a lot of experience in creating truly meaningful engagement with passionate consumers in a world increasingly dependent on brands to create entertainment. We create and deliver big, enduring entertainment ideas and Octagon has excelled at this approach in other markets and sectors. The mutual benefits were obvious to us," said FRUKT, Creative Director, Jack Horner. CEO Anthony Ackenhoff agreed. "We have built our reputation around creating and activating smart strategies for brands that are rooted in entertainment and culture and that address and resolve real business challenges."
Horner explained that becoming a part of Octagon's global network will greatly enhance and accelerate FRUKT's ongoing evolution from their roots in music to become a force in creating and activating global entertainment marketing campaigns. While driven by multi-channel thinking, FRUKT have a strong heritage in both live experience and digital platforms. Their philosophy of sharing insight and thought leadership is demonstrated by:
- FRUKT Source, a leading entertainment marketing blog: http://www.fruktcomms.com/category/source/
- Also published are monthly trend digests and a Yearbook focused on customized research into entertainment.
FRUKT will be a key element in Octagon's growth internationally in Sports and Entertainment marketing.
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draftfcb, FutureBrand, GolinHarris International, HUGE, Initiative, Jack Morton Worldwide, Lowe and Partners, MAGNAGLOBAL, McCann Erickson, Momentum, MRM Worldwide, Octagon, R/GA, UM and Weber Shandwick. Leading domestic brands include Campbell Ewald; Campbell Mithun; Carmichael Lynch; Deutsch, a Lowe and Partners Company; Gotham Inc.; Hill Holliday; ID Media; Mullen and The Martin Agency. For more information, please visit www.interpublic.com.
Octagon, (IPG: NYSE) is the world's largest sponsorship consulting practice, managing and influencing some $3 billion in sponsorship-related spending annually. Octagon also is a pioneer and leader in athlete & personality representation and management. With more than 800+ employees worldwide, Octagon works with hundreds of blue-chip corporate clients and more than 800 athletes & personalities clients and manages more than 13,000 events per year. To learn more about Octagon, visit: www.octagon.com.
FRUKT is a creative communications agency who create and deliver entertaining ideas that connect people with brands through both live and digital experiences that involve engaging content. They have worked with some of the world's leading brands in pioneering platforms and properties in entertainment marketing including Coca-Cola, Southern Comfort, Diesel, Nokia and Starwood Hotels.
To learn more about FRUKT, visit: www.fruktcomms.com