PRN: Droga5 Announces Strategic Investment
Droga5 Announces Strategic Investment
NEW YORK, February 21, 2012 /PRNewswire/ --
Financing Secured from Industry-Leading Investors
Droga5 today announced that it has received a strategic investment from a group led by Henry Silverman that includes Bob Pittman and others. Terms of the transaction were not disclosed.
Founded by former Publicis Groupe Chief Creative Officer David Droga in 2006, Droga5 is an independent, award-winning creative and strategic agency based in New York and Sydney that teams with leading global brands including PUMA, Coca-Cola, Prudential, Kraft Foods, Microsoft, Hennessy, Unilever, and Amstel Light, among others. In only five years, Droga5 has twice been named "US Agency of the Year" by Creativity, a leading advertising industry publication.Â
The investment will allow Droga5 to further expand its New York operations, invest in owned properties, and also explore global expansion, most likely in London.
"We couldn't ask for smarter or more supportive partners," said David Droga, Founder and Creative Chairman of Droga5. "As an innovative, creative agency, it is our responsibility to ourselves and our clients that we explore and invest in opportunities over the horizon."
Silverman and Pittman each have distinguished careers as managers of and investors in public and private companies within the services sector. They have invested together since 1990, when an investor group purchased Six Flags of America, where Pittman served as CEO and Silverman as Chairman. Their careers joined again in 1995 at HFS, led by Silverman as CEO and Pittman as CEO of its franchised real estate units.
Silverman said, "We are delighted to partner with Droga5, the leading creative agency in the world, to help the company advance to the next level."
Creativity's 2011 Agency of the Year and one of Advertising Age's A-List agencies, Droga5 is an independent, award-winning creative and strategic agency based in New York. For more information, please visit droga5.com.