Creston buys PAN for 19m

SolpadineCreston, the marketing services group, is buying specialist healthcare advertising agency PAN Advertising for up to £18.8m.

It is Creston’s third major acquisition this year following two deals in May to buy market research group ICM and direct marketing company Tullo Marshall Warren.

The group also owns Delaney Lund Knox Warren, which it bought in 2005.

The deal will complement Red Door Communications, Creston’s existing healthcare PR agency.

PAN’s customers include Bristol-Myers Squibb, GlaxoSmithKline and Wyeth. Its services include global and European branding, strategy development, brand planning and advertising and promotion. The agency was set up in 1992 and had revenues of £3.6m last year.

Creston also released results for the six months to 30 September this morning. It saw turnover rise by 43% from £37.4m to £53.5m, compared to the same period last year. Pre-tax profits were up 8% from £1.9m to £2.1m.

Latest from Marketing Week

PLEASE SIGN IN OR REGISTER. IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and inspiration that will help you develop as a marketer and leader.

Register and receive the best content from the only title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work, so we can make Marketing Week more relevant to you.

Register now

THE BEST CONTENT

Our award winning editorial team and columnists will ask the biggest questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we will be your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Dedicated to developing your skills and helping you achieve marketing excellence. Find guidance on leadership, professional development and the latest industry jobs.

Having problems?

Contact us on +44 (0)20 7292 3711 or email subscriptions@marketingweek.com

If you are looking for our Jobs site, please click here