Interpublic has sold agencies Hill Holiday and Deutsch New York to Attivo Group, a marketing services company based in Auckland, New Zealand. They are Attivo Group’s first U.S.-based investments.
According to a press release, both agencies will “maintain an affiliate relationship with IPG” and have access to its resources. They will also keep their current leadership, with Hill Holliday CEO Chris Wallrapp and Deutsch NY CEO Val DiFebo retaining their roles.
In the release, IPG CEO Philippe Krakowsky noted Deutsch LA and Deutsch NY have been “operating as separate brands and businesses” since 2020 and the acquisition is a “natural progression” of their separation.
“Deutsch LA continues to be one of IPG’s wholly owned creative agencies, and we’ll support their ongoing evolution and growth,” he added.
Attivo Group, launched in 2020 and led by CEO Cam Murchison, is largely based in New Zealand and Australia, with ownership of many agencies in the region, including Harvey Cameron, Gorilla and Rhubarb Lane. The U.S. acquisitions are the latest in a years-long relationship with IPG. In 2021, Attivo acquired 303 Mullenlowe Australia from IPG and invested in Mediahub.
In October 2023, Deutsch NY announced that it planned to lay off 19% of its staff, which was planned to go into effect in early 2024. The release did not acknowledge the status of the layoffs, but a spokesperson for the agency told Campaign US, “the actions we took to right size our business after the loss of PNC were completed last year.”
Deutsch New York’s DiFebo did not acknowledge the layoffs in the release, though she expressed excitement that the agency will “benefit from Attivo’s investment in our talent and our future.”
“We see this as the best of both worlds as we become part of a new start-up, and still maintain our association with IPG, now as an affiliate,” she added.
This article originally appeared on Campaign US.
