Last checked at 9 Jun 2015 07:00
Creston plc
('Creston' or the 'Group')
Strategic investment in advertising agency
Creston plc (LSE: CRE), the marketing communications group, is pleased to announce that it has made a strategic investment in 18 Feet & Rising Ltd ('the business'), a London based advertising agency.
This highly complementary strategic investment adds an important discipline to Creston Unlimited's full service group offer by providing access to an above the line agency with a global client base and an award winning team.
Established in 2010 by Jonathan Trimble and Matt Keon, 18 Feet & Rising works with world renowned brands including Allianz, Cuprinol, Kopparberg, Nando's, House of Fraser, for which in 2014 it delivered their most successful Christmas campaign to date and ŠKODA, for which they created the world's first ad campaign to use eye-tracking technology.
To demonstrate an aligned philosophy and working practices, 18 Feet & Rising will service shared clients under the Unlimited brand as 18 Feet & Rising Unlimited.
The investment represents a 27 per cent stake, and 50 per cent of the £1 million cash payment for the shareholding will be invested in the business to help accelerate its future growth. For the financial year ended 31 December 2014, 18 Feet & Rising grew revenue by over 24 per cent to £2.7 million.
Commenting on the investment, Barrie Brien, Group Chief Executive of Creston, said: "I am delighted that one of the industry's most creative and highly regarded advertising agencies is becoming part of the Group. Their brand building creativity, combined with their in depth understanding of the digital world will give us a truly compelling offer for our clients."
Jonathan Trimble, CEO of 18 Feet, added: "Our partnership with Creston Unlimited and the access we gain, will enable us to meet our clients' evolving brand and business challenges fully, providing a truly stand-out offer in our marketplace."
-ends-
For further information on the announcement please contact:
Creston plc |
+44 (0)20 7930 9757 |
Barrie Brien, Group Chief Executive | |
Kathryn Herrick, Chief Financial Officer
| |
Bell Pottinger | +44 (0)20 3772 2491 |
Elly Williamson/Lucy Stewart | |
About Creston plc
Creston plc (LSE: CRE), incorporating the Creston Unlimited group offer, is a marketing communications group delivering a range of digital technology-based marketing solutions to blue-chip global clients. Encompassing consultants and discipline experts from across the industry and beyond, Creston Unlimited unlocks the power of creative collaboration to realise the opportunities that exist for brands and businesses in today's rapidly evolving world.www.creston.com / www.creston-unlimited.com
About 18 Feet and Rising
18 Feet & Rising is a creative agency based in London. www.18feet.com