MullenLowe London has confirmed its purchase of independent agency 101 London.
The Drum understands the news was confirmed to staff at its London office yesterday (22 August).
Financial details of the deal are as yet unknown.
The Drum contacted MullenLowe and 101 but was awaiting comment at the time of writing.
M&A firm SI Partners advised on the transaction and declined to comment.
Whispers of a reported purchase were first heard back in July. 101 brings the likes of Britvic, Zoopla and Burton’s Biscuit Company to its new owner.
The news comes as the industry continues an ongoing period of consolidation, with Read full story ›
Source: The Drum
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