Ogilvy & Mather acquires majority in Memac Ogilvy
Agency keeps its regular activity in
the MENA region
International communication group Ogilvy & Mather announced on March 12 that it has acquired a majority stake in Memac Ogilvy (MENA). Founded in 1984 by Edmond Moutran in Bahrain, Memac Ogilvy was associated with Ogilvy & Mather in 1986, when the latter became a minority shareholder in the marketing services company, covering markets throughout the MENA region.
“This is the right time for us to recognize the efforts and success that Memac Ogilvy achieved to build the network in this region,” said a statement by Ogilvy & Mather.
“This is very good news for the entire network. We are now part of a bigger family, and much closer to Ogilvy,” said Naji Boulos, Managing Director of Memac Ogilvy & Mather.
Besides ownership, very little will change at Memac Ogilvy. Moutran will remain the agency’s Chairman and CEO. He was also elected member of the Ogilvy & Mather Worldwide Board.
“Our headquarters will remain in Beirut, and our dedicated staff will continue to strive in delivering the very best work,” Boulos said. There will be no change in the services the agency delivers to its clients, according to him. “Over the years we have aligned our systems, principles, and tools with those of Ogilvy Worldwide. This is a natural progression in the life of Memac Ogilvy.”
Memac Ogilvy serves over 150 international, regional, and local brands including IBM, Coca-Cola, Arab Bank, Al-Marai, and American Express and employs over 570 people in its 14 offices throughout the region.
Ogilvy & Mather is one of the largest marketing communications companies in the world. It has a network of more than 500 offices in 126 countries.
Date Posted: Mar 12, 2014