Marketing firm MDC Partners said Monday it has bought a majority interest in New York-based creative agency Laird+Partners for an undisclosed amount.
The acquisition will both boost MDC's stable of creative offerings and accelerate Laird's plans to expand globally, the company said in a statement.
Laird specializes in fashion, lifestyle and luxury branding communications from traditional advertising to digital services. Its partners include brands such as Donna Karan, Tommy Hilfiger, Calvin Klein, Karl Lagerfeld, Coty, Tory Burch, Bottega Veneta, St. John, Hermès, Rag & Bone, and Vera Wang. Laird has been looking to expand in Europe and China.
“Laird is nimble, entrepreneurial, media agnostic, and built on a foundation of true talent that innovates and creates with the aim to transform clients' businesses,” said MDC chief executive officer Miles Nadal.
“While Laird is a high-end luxury agency at its core, the firm's unique ability to bring these same sensibilities to its entire client portfolio is a compelling growth opportunity.”
MDC employs technology, marketing communications, data analytics, insights and strategic consulting for clients in the United States, Canada, Europe and the Caribbean.
Last week, MDC made its first foray into the U.S. health care sector by acquiring a majority stake in Concentric Pharma Advertising, an advertising firm focused primarily on health promotion and pharmaceuticals. No terms of that deal were disclosed.
Concentric's client list already includes many pharmaceutical industry giants such as Bayer Healthcare, Novartis and Pfizer Inc.