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Cello Buys Into Youth Agency
In the UK, MR and consulting group Cello has bought a 23% stake in youth market research and creative agency Face, with options to buy the remaining equity through a staged earn-out during the next three to five years.
 The agency's web 2.0 community Headbox was launched last May, since when it has recruited around 30,000 16-25 year olds who provide input on new advertising campaigns, new product development, design and seeding activity for clients such as Unilever, Google and Natwest.
Face Co-Founder and MD Andrew Needham said his firm had been in discussions with Cello since last April.
Cello Chairman Kevin Steeds confirmed: 'Face is an exciting and innovative company with a strong youth heritage that has developed a range of leading edge research and marketing techniques . The Face stake is consistent with our strategy of building a substantial international research and consulting group.'
Face was founded by Needham, Henry Yates and Job Muscroft - the founders say the partnership will enable their firm to accelerate its global expansion with the help of Cello's international research network.
Cello already owns MR firms Insight Research Group, Field Management Limited (FML), Leapfrog Research and Planning, the RS Consulting Group; mruk, Rosenblatt, Digital People Online and consumer specialist 2CV (www.mrweb.com/drno/news7483.htm ).
Web sites: www.cellogroup.co.uk , www.facegroup.co.uk and www.headbox.com.
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