MDC Partners has agreed to acquire Swedish ad agency Forsman & Bodenfors, a 30-year-old agency that’s done award-winning for Ikea, P&G, and perhaps most notably, Volvo. Yep, they were the ones who decided teaming Jean-Claude Van Damme’s flexibility and Enya might be a good idea.
The Wall Street Journal reports the deal is expected to close early in the third quarter of 2016 and includes an initial upfront payment of about $32.3 million worth of MDC stock. Forsman & Bodenfors joins other creative powerhouse agencies like Anomaly, 72andSunny, and CP+B in the MDC fold, and it’s the first acquisition for MDC CEO Scott Kauffman since he took over for founder Miles Nadal last year, after the SEC began investigating Nadal’s expenses and company accounting. JB