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RedCube just got hotter
Black owned Media and Communications investment company MSG Afrika Investment Holdings has announced its acquisition of a 51% interest in brand PR Company RedCube Agency for an undisclosed amount. The transaction, which becomes effective from 01 October 2005, was funded from MSG's own resources.
Established in 2002, RedCube Agency has maintained a 100% year-on-year growth in revenue. Rated in the top ten PR agencies in the country and featuring significantly in both Finance Week and Financial Mail's advertising reviews, RedCube currently employs 21 brand PR specialists.
MSG CEO Given Mkhari says RedCube's business performance and creative reputation, compliments their investment criterion of investing in reputable brands within the communications industry.
MSG will second four communications executives to RedCube on a permanent basis resulting in a total of 25 staff members. Danni Vos will become the agency's CEO and Given Mkhari will become the Agency's Chairman.
Mkhari says: "RedCube Agency has always had a reputation for being forward thinking and getting the job done while having an exuberance and a dynamic energy. It is with this same energy and enthusiasm that RedCube Agency anticipates this next exciting phase. RedCube Agency's quest for growth and passion to suceed is something that we share strongly."
Vos says RedCube Agency will now be positioned as one of the top five PR players in the market and the significance of MSG's stake will result in a highly favourable transformation positioning within the procurement space.
"One of the biggest challenges that RedCube Agency will face over the next few months is the implementation of an improved but still dynamic client service structure.
"In order for Clients to get a maximum return on investment whilst achieving their business objectives, we've segmented the Agency into nine business units to create synergies between like minded clients and an enhanced target audience understanding of that relevant industry.
"In a nutshell, this partnership will allow us to be a truly 100% South African company who delivers sustainable brand communication solutions between clients and their target markets whilst adding real value which includes a target market interpretation and a creative Brand PR connectivity campaign... but we have a lot of fun doing it. And that's a huge part of the successful formula."
