Jakarta, Indonesia – M&C Saatchi Indonesia, which has been set up previously as a joint venture by M&C Saatchi as well as with Anish Daryani, Dami Sidharta and Elki Hendria; has been officially acquired by Daryani after buying 55% of the local entity’s business equity for an undisclosed amount. With this, M&C Saatchi Indonesia is set to exit the group company and reorganise as an independent entity.
Cofounding partners Dami Sidharta, chief creative officer, and Elki Hendria, executive strategy and digital director, will continue to remain shareholders in the business, and an integral part of the leadership team.
Following the exit, Daryani stated that M&C Saatchi Indonesia will be rebranded to a new entity in January 2024. There will be complete continuity of business with all clients, talent, partners and vendors under the new entity. Moreover, the new entity will operate the business from the same premises in Menara Sentraya, Jakarta Selatan, Indonesia.
It is worth mentioning that as the Indonesia creative, digital, PR and activation business goes independent, M&C Saatchi Performance, however, will continue to operate in Indonesia under a separate legal entity.
“It has been a mutually rewarding partnership over the last 6 years. During this time, there was a symbiotic relationship between the Indonesia entity and the Group. Indonesia contributed wholeheartedly to the Group’s ambitions with respect to driving growth, profits and recognition for the M&C Saatchi brand. However, with the local management’s ambitions of taking the Indonesia business independent, a joint decision was reached to sell the Group’s interest in the business to Anish Daryani,” the partners have stated in a joint statement.
Meanwhile, Daryani commented, “M&C Saatchi is one of the strongest brands in the business, and it has been my life’s honour to serve the group over the last 6 years. We started M&C Saatchi Indonesia with just the three of us (with Dami and Elki), and have grown to a team of hundred. We’ve earned many Agency of the Year titles over the years, among other awards including our first Cannes Lion, attracted the best talent, and built a formidable business. Here, I have learnt immensely, and forged strong bonds with friends I made the world over from across the network.”
He added, “However, as a creative entrepreneur, some of my ambitions can only be met as an independent entity, which regretfully involves my exit from the group. I’m grateful for all the good times we have shared together, and for Zillah’s keenness to agree to a deal that helps me race towards meeting my ambitions. For M&C Saatchi Group, I will continue to be a reliable friend. As we take our second first step, we wish to continue serving our clients with the same level of passion and integrity, and setting higher benchmarks in the industry.”
Zillah Bing-Thorne, CEO of M&C Saatchi Group and chair of M&C Saatchi Plc., said, “We have enjoyed our relationship with Anish and wish him & colleagues all the very best for their new venture.”
