Another piece of the puzzle has been added with regards to Transcontinental Inc.'s purchase of Redwood Custom Communications. D. B. Scott at the Canadian Magazines blog points to a story in the London, England-based BrandWeek, which reveals that Omnicom Group, a London-based company that owns the Redwood brand, may launch a competing North American operation once Transcontinental's license to use the Redwood name ends.
The offer from Transcontinental means that Redwood will now be free to licence its name in a new North American venture, likely to be in the US, where it will share resources with sister agency network BBDO.
Redwood UK chairman Christopher Ward said: "Our joint venture with the two co-founders, Eric Schneider and Mitch Wine, has been a successful and profitable one, but Redwood now needs more flexibility in the way we service global clients."
The story also states that Transcontinental had previously owned a 50% stake in Redwood North America, which launched here in 1999, and that it purchased the remaining assets in the deal announced this week.