7th March 2012
We’re delighted to announce the sale of one of the world’s best known and highly regarded strategic creative music and entertainment agencies, FRUKT Limited, to the US headquartered Interpublic Group of Companies (“IPG”).
IPG is a global advertising and marketing group and FRUKT will be joining IPG’s Octagon Entertainments, the world’s largest sponsorship consulting practice.
Established in 2001, FRUKT has helped leading brands such as Coca-Cola, Southern Comfort, Diesel and Starwood Hotels build on-going dialogue with consumers through their passion for music and entertainment platforms. FRUKT adds tremendously to Octagon’s comprehensive entertainment marketing services offer and the acquisition will allow FRUKT to fast track its international growth and diversification into broader entertainment sectors.
Green Square acted as advisor to the shareholders of FRUKT throughout the process.
Anthony Ackenhoff, CEO of FRUKT, commented:
“Green Square have been simply brilliant through this entire process. They managed to warn us about what we were about to go through without putting us off, successfully led us through the last few months in such a way that we’d gladly do it again, and also created the best possible deal structure for us, despite having enough issues to surmount that a lesser result could have been justified. You’ll be hard pushed to find a more professional, friendly, funny, diligent and driven bunch of people. In particular, I’d trust Tony with my life – and so trusting him with a business transaction is a no-brainer”