Havas SA has reportedly agreed to buy Scher Lafarge, French advertising agency that was separated from Havas few years back. Reports have further indicated that the deal has been inked due to the fact that it was important for Havas to keep its contract with Peugeot SA brand Citron.
However, the financial details of the deal are not yet known as the company kept refraining speaking on this issue. The company in its statement has said that the goal of the deal is to contribute to the development of Citron in France and internationally.
The account of Citron is vital for Havas as it generated 150 million euro revenue last year and Havas cannot afford to loose the Citron’s account. Le Monde has further reported that Citron’s management was not satisfied with the handling of its account and had bluntly expressed its willingness to work again with Scher Lafarge and this was the prime mover of the deal.
