Last checked at 28 Feb 2022 07:00
28th February 2022
THE MISSION GROUP plc
("MISSION", "the Group")
ACQUISITION OF LIVITY
The MISSION Group plc (AIM: TMG), creator of Work That Counts comprising a network of 16 Agencies delivering real, sustainable growth for its Clients, today announces the acquisition of Livity ltd ("Livity"), the youth focused creative business for a consideration of £0.1 million, to be satisfied in cash.
Based in Brixton, South London but working globally for its clients, Livity is the market leader in its space with over 20 years' experience. It works with leading brands to help them understand youth culture and enable them to engage with the next generation with purpose. Its Clients include Nike, Google, Footlocker, YouTube, NPSCC Childline, Dr. Martens & more.
The acquisition will enhance MISSION's brand, strategy, creative and content capabilities, underpinning the Generation Z marketing offering across the Group.
Livity also provides a new route to next generation talent for the MISSION. Diverse by design, Livity's innovative talent strategy is focused on young people and developing potential based on their skills and interests.
In the financial year ended 31 December 2020, Livity reported a gross profit of £1.1 million, pre-tax losses of £0.4 million and as at 31 December 2020 had net liabilities of £0.6 million.
James Clifton, Chief Executive of The MISSION Group plc, commented: "I'm delighted to welcome our new colleagues at Livity into the MISSION family.
"This latest acquisition is testament to our continued strategy to focus on exploring opportunities that further enhance our compelling infrastructure.
"MISSION has a strong track record of acquiring, integrating and helping ambitious businesses to grow and expand to meet their true potential, both in the UK market and beyond. Our Clients and prospects are acutely aware of the growing influence of Generation Z and are eager to explore how they can successfully engage with the youth audience. Livity offers them unparalleled expertise and guidance and I look forward to working closely with the team as we embark on this exciting new phase of growth to realise Livity's full potential."
Alex Goat, Chief Executive Officer of Livity, said: "I am incredibly proud of the journey Livity has been on and we are excited to enter the next chapter. MISSION's focus on creativity, innovation and entrepreneurialism makes it a natural fit for Livity. They understand that brands need to act with meaning and have actively embraced our purpose. We are looking forward to becoming part of MISSION, exploring its brilliant network and planning the future together."
ENQUIRIES:
James Clifton, Chief Executive Officer Giles Lee, Chief Financial Officer The MISSION Group plc |
020 7462 1415 |
Mark Percy / James Thomas / Fiona Conroy Shore Capital (Nomad and Broker) | 020 7408 4090 |
Kate Hoare / Laura Stewart HOUSTON (Financial PR and Investor Relations) | 0204 529 0549 |
NOTES TO EDITORS
MISSION is a collective of Creative and MarTech Agencies led by entrepreneurs who encourage an independent spirit. Employing over 1,000 people across 28 locations and 3 continents, the Group successfully combines its diverse expertise to produce Work That Counts for our Clients, whatever their ambitions. Creating real standout, sharing real innovation and delivering real business growth for some of the world's biggest brands. www.themission.co.uk