The co-founders of DM shop Ruby have finally put pen to paper over the management buyout of The Red Brick Road, with four directors securing control of the business.
The agency, set up in 2006 by Frank Lowe to handle Tesco’s £110m ad account, will continue to operate out of the same offices in Beak Street, Soho.
The original Red Brick Road management team of Paul Hammersley and David Hackworthy left last year, after the decision not to repitch for the Tesco business saw income plummet. Wieden & Kennedy won the Tesco account in July.
Ruby was set up in November 2007 by CHI creative team Richard ‘Dickie’ Megson and Matt Davis, along with Proximity board director David Miller. They were joined in 2008 by planning director Ben Mitchell.
Ruby was then folded into the main agency last summer, with Miller becoming managing director. The plan for an MBO was first mooted back in October last year; all four now have an equal 25% stake.The agency’s clients include Magners, Suzuki and Glenfiddich.
Miller said: “The four of us joined TRBR in 2008 and have helped the agency develop into one of London’s best integrated agencies. We’re thrilled to be leading it forwards.”
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