Communications group Bastion Collective acquires Sydney advertising agency Banjo
Australian independent communications group Bastion Collective has announced the acquisition of one of the country’s biggest and most celebrated creative agencies, Banjo.
Banjo, based out of Sydney, was founded a decade ago by managing partners Andrew Varasdi and Ben Lyttle along with advertising magnate John Singleton and venture capitalist Mark Carnegie. Last year Carnegie sold his stake to Varasdi and Lyttle.
This is a majority acquisition in line with Bastion Collective’s ongoing acquisition strategy, whereby Banjo’s founding partners Varasdi and Lyttle, retain a meaningful stake in the business.
Varasdi joined John Singleton Advertising in 1992 which became the start of a 16-year career in advertising. Lyttle has strong client, creative and media experience through his roles at Ogilvy & Mather Group, The Campaign Palace and Australasia director of Carat’s channel and connections planning division.
Bastion Collective Australian CEO Jack Watts is thrilled with the news.
Says Watts: “This partnership is a game-changer for us and our clients. It enables us to tap into some of the greatest creative talent in the country and absolute experts in their field.
“This acquisition aligns with our strategic direction to bring in top performing agencies with complementary services, that deliver integrated solutions to clients all under the one roof. As a Collective this means we stay agile, flexible and collaborative and can continue to be nimble and adapt in an increasingly fast-paced and ever-changing communications world.”
Banjo has produced leading campaigns over the years and boasts a strong client list including; The Real Pet Food Company, NSW Transport, NSW Health, TAFE NSW, Department of Industry, Alinta Energy, AMP, SafeWork, Minerals Council of NSW/Qld/Australia and Service NSW.
From the very beginning Banjo’s founders set out to create an agency where their clients and people came first. Banjo now has an outfit of 28 people who will be welcomed by the Bastion group’s growing Sydney operations.
Says Varasdi: “We have always believed that if you look after your clients everything else looks after itself and the best way to do that is to look after your people too. It was really important to Ben and I that we found a partner that shared our vision.
“We have the utmost respect for Bastion and are excited about what they are building. Having spent nearly 25 years in the industry we have seen it all. We have been part of agencies and holding company models, but this feels very different. It all starts with having a strong culture, great people and clear vision. This is what stood out to us from our very first meeting with Bastion; they have created something special for their people as well as continually delivering world class work for their clients.”
Banjo’s founding partners also noted a rapidly changing landscape and desire for growth as another key reason to partner.
Says Varasdi and Lyttle: “The landscape for strategic and creative agencies has changed greatly over the years and will continue to do so. Being a single outfit has many advantages but it also has its challenges. To be part of a network within Bastion will no doubt broaden business opportunities, which gives us at Banjo a new trajectory of growth potential.”
Says Watts: “We’re really excited to welcome Andrew and Ben and the entire Banjo team into the Collective. Banjo’s people and clients are such a great fit for us, as they share our energy, passion and desire to continually deliver world class work.
“This acquisition delivers on our goal to bring in the best in the business so that our clients deal with absolute experts and receive family business service from owner operators who are truly passionate about what they do.”
Banjo also believes they are now getting the best of both worlds through this partnership.
Says Lyttle : “Our identity has always been important and with Bastion, we retain what has made us great, our culture, our way of working, yet as part of Bastion Collective we can collaborate, be interconnected, and have world class support and capabilities that together make the
possibilities to serve our clients with even more skill.”
(Pictured L-R: Jack Watts, Fergus Watts, Andrew Varasdi, Ben Lyttle)
12 Comments
“one of the country’s biggest and most celebrated creative agencies, Banjo”
C’mon. Seriously.
Biggest and most celebrated……..A massive 28 people and a host of groundbreaking celebrated government accounts
“they have created something special for their people as well as continually delivering world class work for their clients.” Excuse me.
Good luck Andrew.
You had the guts to start a business, create jobs and help a lot of clients on the way.
The industry needs more like you. Well done.
I hope you didn’t pay too much Bastion Collective
So do we file that under asset or liability?
“one of the country’s biggest and most celebrated creative agencies” – just like their namesake, they’re prone to telling a good yarn.
I wonder if this will stop the partners having fist fights to solve their arguments…
It’s a clear winner for the most unprofessional place I’ve ever had the misfortune of working at.
When I joined Banjo some 5 years ago, it was an absolute juggernaut. Clients were coming without pitch, the work was great, the culture (though extremely corrosive at times) was strong, and there was a sense that this could be the next great independent Australian agency.
The keys to the kingdom were handed to the partners.
But instead of opening the door, they fought amongst themselves, second-guessed each other instead of backing each other. Clients began to smell it, and left. So too did staff.
I wish both parties nothing but luck, however I cannot help but think that Banjo is a cautionary tale, not the inspirational one it could have been.
I remember where there was only a handful of us – my creative mentors Georgia and John were genuinely trying to build something out of nothing having left comfortable award winning positions both at Bigger places.
SurfLife Saving was my first TV campaign and I remember it fondly but that’s where the nice memories end. I was junior back then and after helping them win their first major account they sacked everyone as they could suddenly afford better staff.
I’m so glad I’m not in advertising anymore. Shit like that just makes me grumpy.
These comments tho… nom nom nom
Seems like low hanging fruit to me. I would love to know the sale price…