Envoy Communications Group, Toronto, said its purchase of New York ad agency Hampel Stefanides, announced today, is part of a drive to build a global ad agency company. Envoy already owns Communique, the third-largest local agency in Canada. "The trend today is for integrated communications services in a global marketplace and that's what this acquisition is all about," said Envoy CEO Geoff Genovese. Envoy has billings estimated at $75 million. Hampel has offices in New York and San Francisco and $110 million in billings from clients such as Castrol Motor Oil, NEC Computer Systems and BASF Corp. Terms of the Hampel Stefanides transaction were not disclosed. The deal is expected to close Oct. 31.
Copyright October 1998, Crain Communications Inc.