Avenir, the Canadian parent company of Axon and Madano, has acquired the firm for an undisclosed sum.
Huntsworth has stopped working with around 5% of clients in its Communications arm – which includes Grayling, Red and Citigate – as it exits “unprofitable” accounts, CEO Paul Taaffe has told PRWeek.
Huntsworth has reported a 5.4% fall in like-for-like revenue at its PR agencies in the first half of 2018, led largely by declines at Grayling after the “elimination of unprofitable client contracts.”
Huntsworth has continued its expansion by taking a majority stake in U.S. independent healthcare marketing agency Giant Creative Strategy for an initial sum of $72.2m.
Red, a Huntsworth agency, also counted Sanofi as a new client.