Japan’s Hakuhodo Buys Red Peak, SYPartners
Japanese ad holding company Hakuhodo DY Holdings said it has acquired two U.S.-based companies as part of its efforts to diversify its revenue base beyond Japan, where it ranks as the second-largest ad company behind Dentsu Aegis.
The acquired companies—marketing services firm Red Peak Group and brand consultancy SYPartners— will make up the foundation of a new Hakuhodo operating unit to be called kyu that will house a small portfolio of agencies. Red Peak’s founder and chairman Michael Birkin will take on the role of kyu’s chief executive in July.
Terms of the deals weren’t disclosed.