Avatar Investment Holdings (AIH), which is owner of largest majority black-owned and -run integrated advertising group Avatar360 (Avatar Johannesburg and Avatar Cape Town), will acquire shares in M&C Saatchi Abel, M&C Saatchi Africa, as well as three M&C Saatchi companies, namely digital agency Creative Spark, media agency M&C Saatchi Connect and the design-focused agency Dalmatian Advertising. In turn, the London-headquartered global marketing firm, M&C Saatchi PLC, will acquire a minority share in Avatar360.
Avatar was awarded the Financial Mail Adfocus 2017 Medium Advertising Agency of the Year accolade at the end of 2016 and was founded by Zibusiso Mkhwanazi and Veli Ngubane in February 2012, and will retain the majority shares of Avatar, making this the first time a company of Avatar’s size and structure will become part of another entity without sacrificing its independence.
Mkhwanazi calls it a step they're taking to continue driving their goal to establish SA’s largest integrated communications group.
Click here for more on how Avatar is challenging the agency norm.
