Omnicom eyes full Clemenger ownership; Nick Garrett tipped to lead Oceania integration

Omnicom Group is in negotiations to acquire the remaining 13.16% stake in Clemenger Group, aiming for full ownership according to a report in The Australian.

Currently holding an 86.84% share, Omnicom’s proposed move would consolidate its control over Clemenger. The Australian reports that a shareholder vote on the proposed acquisition is scheduled for June 30, coinciding with the retirement of long-serving Clemenger Chairman Robert Morgan after 46 years with the company.

The proposed acquisition is expected to pave the way for a new Oceania management structure that integrates Omnicom’s media and creative operations. Industry sources suggest that former Deloitte Digital Global Chief Marketing Officer Nick Garrett, a seasoned Omnicom executive with previous leadership roles at both Clemenger BBDO and Colenso BBDO, is the frontrunner to head this proposed unified structure.

Garrett, who departed Clemenger BBDO in 2019, joined Adrian Mills and Matt Lawson as the third partner in Deloitte Creative in 2021, focussed on connecting creativity across the Deloitte business and client base. Garrett quietly left Deloitte back in February.

Garrett is best known for his love of ‘ideas and the creative product’ and he is the only Australian agency CEO to lead two creative agencies to the number 1 ranking in the world – and involved in work that has won close to 200 Cannes Lions. In his time as CEO of Colenso BBDO, the agency nearly trebled in size, winning three CB Agency of the year titles and twice achieving the most creative agency in the world accolade.

Garrett transferred to Clemenger BBDO Melbourne in 2015, helping to diversify its offer, and grew the business significantly. During his tenure he also helped push the high creative standards the agency set itself, adding a CB Agency of the Year title, and becoming the only Australian agency in history to be named ‘Creative Agency of the Year’ at Cannes and D&AD, while also being named global creative agency of the year and the world’s most effective in the WARC 100.

The relationship between Clemenger and Omnicom has reportedly been strained particularly after the unification of CHEP, Traffik and Clemenger. According to insiders, the merger was seen as a catalyst for broader integration plans.

If approved, the proposed deal would mark the final step in a partnership that began in 1972 when BBDO Worldwide took an initial 35% stake in Clemenger, which increased to 74% in 2011. The proposed move would cement Omnicom’s ownership of some of the region’s most prominent agencies, including Clemenger BBDO, Colenso BBDO, TBWA, and DDB.

Sources say the Oceania restructure is aligned with Omnicom’s global ambitions and could serve as a pilot market for an integrated model that fuses creative and media under a unified leadership approach. Similar structures have already been adopted by other holding companies such as Publicis Groupe, WPP and Dentsu.

The Clemenger buyout comes as Omnicom pursues a significantly larger strategic play: a proposed global merger with Interpublic Group (IPG). That proposed deal, still undergoing regulatory review in several markets including Australia and New Zealand, would create the world’s largest advertising holding company – surpassing WPP and Publicis Groupe.

If both proposed deals proceed, the combined effect would be a major reconfiguration of the advertising landscape – both globally and in the local market.