303 sells 51% to Lowe Australia to form 303 Lowe – merged group headed by 303’s Nick Cleaver; former Lowe CEO Stephen Pearson returns to NZ
303 has sold 51% of its business to Lowe Australia in a deal that will see the two agencies merge to become 303 Lowe. 303’s management team headed by CEO Nick Cleaver (near left) will become the management of the new merged entity.
Stephen Pearson, former Lowe Sydney CEO, stepped down in August and has since returned to New Zealand. 303 Lowe Sydney will be housed in the Lowe Rocks‚ offices.
The new management line up of 303 Lowe includes Sydney MD Jon Mckie (above left), ECD Simon Langley (above centre), Perth MD Alan Taylor, Perth CD Lindsay Medalia, Media Director Clive Bingwa and Head of Planning Derry Simpson.
303 is Australia’s largest independent agency with offices in Sydney and Perth. The agency originates from Perth where it has always enjoyed a strong creative reputation. It expanded nationally in 2007 with the opening of the Sydney office and has since experienced strong growth and success.
“We are excited about linking our local capabilities to a global network and the opportunities this provides for our on-going growth and development,” said Cleaver.
“It’s a rare opportunity to partner with a resurgent international agency. We have been impressed by Lowe‚s work in overseas markets, particularly in the US and the UK where similar partnerships with Deutsch and DLKW have seen the Lowe agency once again beginning to fire.”
Announcing the deal Michael Wall, global CEO Lowe and Partners, says: “303 is one of Australia’s most successful independent creative agencies. They have a management line-up with real bench strength, fully integrated capabilities and a strong creative reputation. And with locations in Perth and Sydney, there is a blend of experience and a proven track record, allied to palpable energy and ambition, for what lies ahead. The new merged entity, 303LOWE, will now offer a strong blend for local and multinational clients looking to punch above their weight and make a real difference in their respective categories.”
“We were attracted by the creative ethos, culture and ambitions of Lowe and the alignment of values our two agencies enjoy. It’s a very straightforward merger that will significantly enhance the depth of resources of the new group. Our new company will have a head count of around 140 people,” said Cleaver.
“It was really important to us that we retained a significant stake in the business and that there is a long term option for us to maintain a broad based local ownership. We believe 303 Lowe will provide tremendous opportunities for our people and a substantial resource base from which to service our clients.”
The new agency’s merged client list will include Unilever, Johnson & Johnson, Aussie, Harley-Davidson, Pepsico, Fujitsu, Red Rooster, Ikea, Cash Converters, The Travel Corporation, Cerebos and Fairfax Digital, amongst others.
22 Comments
At last, Lowe will be a top agency again. Great news!
The question has to be: what will Stephen Pearson do next?
Congratulations, lads.
Enjoy your bubbles and beer.
what’s mon got to say about this?
Mon is currently en vacance … she will be available for interviews and quotes on her return.
Wut?
Good riddance.
Dear Nick and the new 303 management team,
Good luck restoring the Lowe brand to the heights that Adam, Dejan et al took it to in 2006 – it seems to have lost sight of what made it special over the last few years.
Congrats all, look forward to some good work
This more about IPG trying to rescue it’s flagging interests in Australia. McCann and Smart. Lowe and 303. I guess FCB is next for a reverse take over….
Great stuff Langers. Well deserved.
Sorry kit but these guys only care about their ass They aren’t gonna change anything
Kit.
Isn’t that the point? New management came in at the tail end of Dejan’s rein and screwed it all up. And has continued to screw it, losing a lot of it’s big accounts.
Reminds me of what’s happening now at Singo’s old place with the new guard.
Langers is no slouch and I’m sure he’s busting at the seams to get his hands on some real sizable accounts.
This just wont work. Two average agencies without a point of difference, merging to achieve a scale that is beyond them individually. Lowe should just be put down. It’s just not relevant. Along with McCann. Ammirati, Hunt, 303…..These useless multinationals need to realise its not a numbers game. It is about having a point of difference. Investing in the future. Having a product that is relevant. 303 is not that answer.
FCB are going down the toilet.
There is no saving that one.
Nick, Simon & John will make this work, just like they have in the Sydney 303 office. All talent and no bullshit….unlike some of the other agencies.
@7:70.
Sorry to rain on your parade, but surely you meant ‘reign’, not ‘rein’, a device for controlling a horse.
Surely The Spelling, Grammar and Literacy Police meant @7:30 and not @7:70.
You know that awful moment… a split second after you’ve pressed ‘Submit’, and you notice an error, @4:07? I had that…and perhaps @7:30 did too. Suddenly I’m feeling generous.
Simon’s a good guy and the 303 team will make this work.
I can’t get over why some posts are containing random French words, we dont think you’re sophisticated we think you’re knobs.
The trouble with the French, 5:03 is that they have no word for entrepreneur.
Damn! Can’t believe they didn’t call themselves ‘3 Lowe 3’