Citat acquires LEON
Nordic advertising agency Citat AB acquires Leon, an agency based in Norrköping. The deal will strengthen Citat’s position in Sweden’s fourth metropolitan area and ensure delivery to existing clients. It will also lead to major, immediate synergies.
Citat will take over a number of accomplished creative and strategic consultants, thereby strengthening the agency’s competency and offer.
- The deal is completely in line with our strategy, says Lars Lundström, Citat’s CEO. We had some contact with Leon’s owners back in 2012, and when the agency was declared bankrupt recently we acted swiftly in order to reach a satisfactory solution for all parties. Norrköping is located in the middle of an exciting, industrial cluster and we see major synergies that will create added value for us as well as for our our clients. In addition, a number of jobs will be saved while we also ensure delivery to clients who have lost their advertising agency, Lars Lundström adds.
Citat’s new office in Norrköping will be established February 18 with a staff of some ten people, who will be part of Citat’s organisation. The team will immediately start delivering to existing clients under the Citat brand.
- We’ve been through a turbulent period at Leon recently and it will be an exciting challenge to become part of Citat and its strongly focused development and culture. In this way, together with Citat we will be able to honour our commitments to our clients, as well as offer both existing and potential clients a wider range of services and greater stability, says Patrik Nellhag, Creative Director at Leon and one of Citat’s new strategic consultants in Norrköping.