Canada's N5R Buys Youth Agency Bat Cave
The deal culminates a working relationship between N5R and Bat Cave. Terms were not disclosed, but Toronto-based Bat Cave keeps its name and president Andrew Turner.
"We've been sharing clients for two years, and this has solidified our partnership," N5R CEO Roman Bodnarchuk said.
The 7-year-old Bat Cave brought Coors Light business to N5R and, in return, got work for Hershey. Both agencies worked together on joint promotions for Bat Cave clients like Doritos and Pepsi.
As part of the deal, Bat Cave will operate as a separate subsidiary of 4-year-old N5R, an agency that last year made estimated profit of $284,000 on revenue of $1.58 million. N5R clients include Procter & Gamble, Johnson & Johnson, Hershey, Nissan and Sears Canada. N5R in July bought Quartez, a London text messaging company.