Credit: Leonards Advertising
Australia's oldest media agency, Leonards Advertising, has been acquired by Melbourne media owner James Spinks, marking the third ownership change in the agency's 100-year history.
The Sydney-based agency was founded in 1926 by Frank Leonard and was most recently owned by Kate and Richard Faithorn. The acquisition price was not disclosed.
Leonards provides media buying and communications services for local government, education and travel clients. The agency says it handles about 90% of local government media work in NSW, with clients including the City of Sydney, City of Parramatta and City of Penrith.
The acquisition adds Leonards to Spinks' existing media portfolio, which includes sports publisher Zero Digital Sports and digital agency Interplay Media.
All eight staff will remain with the business. The deal also includes Leonards' campaign booking platform, EziAd, which is used by councils and government organisations to place advertising campaigns, tender notices and recruitment advertising.
Spinks said he planned to invest in the business and rebrand the agency ahead of its centenary next year.
"Leonards Advertising has a proud history on Australia's East Coast, and I see enormous potential to build on that legacy as a full-service integrated communications agency," Spinks said.
"We will invest in the team, the software and the brand. There is still incredible value in the media agency world."
Faithorn said the sale would support the agency's next stage of growth.
"The acquisition of Leonards by James has come at a perfect time," Faithorn said.
"Richard and I have thoroughly enjoyed our time at the helm of Leonards but now both in our 60s, believe Leonards needs new energy and vision.
“The digital expertise brought by James and his team will expand the agency’s offerings and give greater channel options and services for current and future clients."
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