Young & Rubicam has won Danone’s $250m (154m) global account to handle advertising and direct marketing for all the group’s dairy products.
The news comes on the day Y&R, the group company, floated in the US. Shares in the agency started trading on the New York Stock Exchange at $26 (15.75) yesterday (Tuesday) morning and had risen by more than $2 by mid-afternoon. The group is valued at over $2bn (1.25bn).
Y&R, the ad agency, and its sister direct marketing agency Wunderman Cato Johnson already work for Danone in 20 markets. But the consolidation of the account strips Grey, Saatchi & Saatchi and the Omnicom-owned network BDDP of work across Europe and the US.
The decision to consolidate came from Danone’s Paris headquarters.