Omnicom lands Coca-Cola’s North American media business, as WPP retains its global remit
The beverage giant's US and Canada media move to Omnicom as the holdco's CEO John Wren made the case it would build a bespoke team, not a Pepsico holdover.
Omnicom has secured Coca-Cola's North American media business, following PepsiCo's departure from the relationship after almost three decades. WPP will retain its global remit, excluding Japan and South Korea, which remain with Dentsu. The deal grants Omnicom the U.S. and Canadian media account of Coca-Cola, valued at an estimated $700 million to $800 million.
The acquisition was finalized after Omnicom's senior team, led by CEO John Wren, demonstrated to Coca-Cola's marketing executives the benefits of a tailored team, competitive salaries, and technological innovation. Omnicom, now the world's largest media company following its merger with IPG, generated $75.6 billion in revenue, accounting for approximately 31% of the global marketing services industry. The transition to Omnicom's management is set to begin on December 1.
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