Stagwell (STGW) Adds UK's Leading Independent Media Agency, Goodstuff Communications, to Stagwell Media Network
Stagwell (NASDAQ: STGW) has acquired Goodstuff, a full-service media planning and buying agency based in London, enhancing its Stagwell Media Network. Goodstuff brings a talented team of 130 professionals and extensive client services including communications strategy and media delivery for clients like Ovo and Yorkshire Tea. This acquisition aims to create a competitive media operation and drive innovation within the network. With the capacity to manage nearly $5 billion in media, Stagwell Media Network continues its growth trajectory after the 2021 merger with MDC Partners.
- Acquisition of Goodstuff enhances Stagwell Media Network's capabilities.
- Goodstuff brings 130 experts and a strong client base, improving service offerings.
- Stagwell Media Network manages nearly $5 billion in media, indicating strong financial growth.
- None.
NEW YORK and LONDON, Jan. 4, 2022 /PRNewswire/ -- (NASDAQ: STGW) – Stagwell, the challenger network built to transform marketing, today announced the acquisition of Goodstuff, the 130-strong, full-service media planning and buying agency based in London.
The Goodstuff team will join the Stagwell Media Network, a group of leading multichannel agencies home to more than 3,000 experts with an expansive global footprint across 20 countries and 40 offices, managing close to
Goodstuff brings complementary and additive client services, including communications strategy, full-funnel media delivery, and inventive solutions for premier clients, including Ovo, AA, On The Beach, Yorkshire Tea, Cazoo, and Hello Fresh. As a first-class brand and highly respected business in a key global market, Goodstuff will further extend the media network's innovation, scale, and creative thinking.
"We welcome Goodstuff as a critical part of our strategy to create a truly global and competitive media operation. When we created Stagwell Media Network, we set out to build a collaborative and coherent network of global media agencies that are on the leading edge of media, data, and technology," Stagwell Chairman and CEO Mark Penn said. "The addition of Goodstuff with their unrivaled track record of innovation continues to deliver on our vision of transforming marketing."
"I am delighted to welcome co-founders Andrew Stephens and Ben Hayes and the entire Goodstuff team into the network. What attracted us to the agency were their world-class leadership and unwavering focus on people, culture, and the work," said James Townsend, Global CEO of both Stagwell Media Network and the network's flagship media agency, Assembly. "After a series of successful collaborations with Assembly in the UK, we see the potential for our network to build something truly differentiated, progressive, and exciting in the marketplace."
Goodstuff will continue to deliver inventive planning, buying, data, and digital services for progressive and ambitious brands and will now be able to provide an additional range of solutions from across Stagwell. Coming on the heels of their 10-year Omnichannel planning and buying anniversary, the company will maintain operations under the Goodstuff brand based in London and led by co-founders Andrew Stephens and Ben Hayes.
"Goodstuff's unswerving mission is to be the world's most inventive media agency, and to help accelerate our next phase, we wanted to join a network that could bring world-class capabilities in data, technology, and digital. In Stagwell, we've not only found these services, but also a partner that perfectly aligns with our culture of entrepreneurialism, invention, and progress," said Stephens and Hayes. "We've been hugely impressed by Stagwell's challenger status and ambitions, their senior leadership team, and the breadth of world-class modern marketing brands in the group."
This is the first full acquisition since the combination of Stagwell and MDC partners in August 2021. Terms of the deal were not disclosed.
About Stagwell Inc.
Stagwell is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 10,000+ specialists in 20+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com.
About Stagwell Media Network
Stagwell's Media Network is a group of leading multichannel agencies home to more than 3,000 experts with an expansive global footprint across 40+ offices in 20 countries, managing close to
The network offers marketers a more dynamic partner for global B2B and B2C solutions spanning data, technology, media, and creativity aimed at accelerating business growth for brands worldwide.
About Goodstuff
Goodstuff is the UK's leading media planning and buying agency, the highest rated independent agency by Campaign School Reports, and holds both the 2019 & 2020 Grands Prix for both Media Week & Campaign Media Awards.
Established in 2004 as a pure communications and creative media agency, incubated by Virgin, the agency had seven successful years before scaling the business through the addition of media buying.
The agency is one of the UK's fastest growing, has been listed in The Sunday Times' 'Top 100 Small Companies to Work For' and Campaign's 'Best Places to Work' and is host of the annual Goodstuff Media Showcase, an event that brings together the creative and media owner communities. Find out more at Goodstuff.co.uk.
Contact: Beth Sidhu
beth.sidhu@stagwellglobal.com
+1. 202.423.4414
View original content to download multimedia:https://www.prnewswire.com/news-releases/stagwell-stgw-adds-uks-leading-independent-media-agency-goodstuff-communications-to-stagwell-media-network-301453528.html
SOURCE Stagwell Inc.
FAQ
What is the significance of Stagwell's acquisition of Goodstuff on January 4, 2022?
How does Goodstuff fit into the Stagwell Media Network?
What is the financial impact of Goodstuff joining Stagwell?
What type of clients does Goodstuff serve?
What is the stock symbol for Stagwell?
