Cheil Worldwide acquires US-based independent McKinney

Buz Sawyer(left) and Nack-Hoi Kim(middle) of Cheil Worldwide with Brad Brinegar(right) of McKinney.

Seoul-headquartered Cheil Worldwide has acquired US-based independent McKinney for an undisclosed sum. McKinney will continue to be led by CEO Brad Brinegar, retain its name, leadership team and will remain headquartered in Durham, North Carolina, Cheil said in a statement announcing the acquisition.

Nack-Hoi Kim, CEO, Cheil Worldwide, said, “We are thrilled to partner with McKinney, one of the world’s most creative and effective integrated ad agencies, to offer a significantly strengthened network of services to existing clients and to win new clients in the world’s largest ad market. With a shared passion for integrated ideas that move the needle for clients’ business, I’m confident McKinney will drive Cheil’s success worldwide.”

McKinney turned independent in 2008, when it bought back stake from Havas.

“After four years of charting our own course and producing unprecedented results for our clients, we couldn’t pass up this golden opportunity to be better, bigger, faster,” said Brinegar.

“Cheil’s enthusiasm for McKinney’s independent spirit and the opportunity to help write the future of the global network sealed the deal. Though we’re from different parts of the world, we share the language of success — ‘tuhon,’ the relentless drive to achieve extraordinary results despite all obstacles,” he added.

Cheil USA has offices in New York an Dallas. McKinney becomes part of Cheil Americas, a regional network of agency partners led by CEO Buz Sawyer. McKinney will join Cheil USA, Cheil Canada, Cheil Mexico, Cheil Central America, Cheil Brazil and The Barbarian Group.

Sawyer explained, “This isn’t just another financial transaction in a summer of consolidation, though Cheil will provide McKinney with rocket fuel to take their business to the next level."

On the way forward, he added, "Together, we will take a fresh approach to growing an agency network, with an ‘open-source’ model based on partnership, collaboration and a shared vision for growth.”