Orrick advised the shareholders of Düsseldorf-based marketing agency Markenloft in the company’s sale to Japanese advertising agency Dentsu Aegis Network, which is part of the Dentsu Group. The transaction is subject to the approval of cartel authorities.
Markenloft was founded in 2008 and, with about 30 employees, generated a revenue of approximately €4.2 million in 2015. Markenloft’s clients include Deichmann, Targobank and TUI.
Dentsu was founded in 1901 and is increasingly active worldwide, most recently having acquired a major stake in a U.S. agency. Dentsu intends to launch a global lifestyle and marketing brand in Germany to be known as MKTG. Post-acquisition, Markenloft will become part of the Dentsu Aegis Network and will rebrand to “MKTG” within three months post-acquisition.
Markenloft founders Kai Burkhard and Sebastian Birwe will remain chief executive officers in the new structure.
The Germany-based Orrick team was led by M&A and Private Equity partner Stefan Weinheimer and included M&A and Private Equity partner Konstantin Heitmann, Tax partner Stefan Schultes-Schnitzlein, Antitrust & Competition partner Till Steinvorth, Employment partner André Zimmermann, M&A and Private Equity managing associate Lara Finken and Tax associate Markus Piontek.