10 November 2014 – acquisition
The company has announced the acquisition of Raymond Loewy International Limited and its planned merger with Bray Leino PR. This will create a separate standalone PR business with annual revenues in excess of £5m, to be known as Speed Communications. The acquired business is a London-based PR Agency. It employs 25 staff and clients include The Economist, The FT, adidas, GSK and Lucozade Sport. Bray Leino PR employed 40 staff and has offices in Bristol and London, covering both consumer and lifestyle and B2B clients including Virgin Media, Remington, Samsung, Wincanton and RAC. As this is not classed as a significant transaction full financial details have not been disclosed. We retain our BUY rating.