Edelman eyes Europe acquisitions but could scale back in some countries

Edelman is closing in on two more acquisitions across Europe and CIS in 2014/2015, but could also scale back operations in some countries in the region.

Michael Stewart: President and CEO of Edelman's Europe & CIS region
Michael Stewart: President and CEO of Edelman's Europe & CIS region

Interviewed by PRWeek for Edelman’s regional profile in the Global Agency Business Report, Michael Stewart (pictured), president and CEO of the agency’s Europe & CIS region, hailed the "tremendous" impact of two acquisitions from 2014: Elan of France and Sweden’s Deportivo.

"We’ve got a couple more ac­quisitions this year and going into next year in the pipeline that we hope are going to be similar," he said.

Earlier this year Edelman announced plans to close its Russian operation, and Stewart suggested that scaling back could be replicated elsewhere.

"There are other markets where we’re saying, we’re going to focus and make it a bit more narrow, and others where we do think we need to be that big, integrated agency."

However, he revealed that Edelman secured the right of first refusal to buy its new Russian partner PRT, and would do so if there was "momentum".

Stewart also discussed the "structural" change across Europe that had seen clients consolidate their accounts into a smaller number of key countries.

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Last week it was revealed that Edelman UK has overtaken Brunswick to become the UK's biggest PR agency by fee income. Lord Myners was also appointed as its UK chairman.

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