Africa Biz Construction and Business News
Smollan Group Acquires South African Below-the-Line Agency Elevator
June 9, 2018
The Smollan Group, an international retail solutions company headquatered in Mumbai, India, and with a major regional presence in Africa via its Cape Town office, recently acquired a majority stake in Elevator, a South African below-the-line marketing agency.
International retail solutions company Smollan, recently announced the acquisition of a majority stake in leading South African below-the-line agency, Elevator.
The acquisition will significantly strengthen Smollan’s retail marketing service capabilities, as they are now able to tap into Elevator’s experiential, activation, digital and employee engagement expertise.
Elevator was formed off the back of a merger between established BTL agencies Stretch and Point Blank in January 2017. The merged entity has enjoyed significant growth over the past year and now boasts a 50+ staff headcount with offices in Johannesburg, Cape Town and Durban; with a blue-chip client list that includes Cell C, Lipton Ice Tea, Chevron, Pernod Ricard and Standard Bank.
“Smollan have an incredible reputation, both from a business and values perspective. While we’ve had a number of interested parties over the years, with Smollan it became clear that there were commercial synergies and an unmistakable cultural alignment that will lay the foundation for an unparalleled offering of impactful data driven experiences,” said Mike Silver, CEO, Elevator. “While we’ve just completed our first merged year as Elevator, we are very excited about the next chapter and being part of the Smollan Group, both in South Africa and internationally.”
“We are extremely proud of this acquisition,” said Michael Smollan, Growth & Innovation Officer, Smollan. “Elevator, together with the other Smollan assets start to form the basis of a very powerful offering which will further enhance our capability in this area of our strategy. We have felt a great connection with the team and the business through the process and look very forward to what the two businesses can unlock together.”