Peak and Dale Group, a tech and communications agency, has acquire marketing firm Bean Interactive for an undisclosed amount.
- The deal will see Peak and Dale Group founder and CEO Brendah Mwirichia, run Bean Interactive.
- Bean Interactive was founded in 2009 by Martin Kiarie to take advantage of the then nascent bluetooth advertising sector, before pivoting to digital marketing.
- Peak and Dale was also founded in 2009 by Brenda Mwirichia, who had previously worked in the IT departments of Celtel Kenya (now Airtel Kenya) and Edgenet Ltd.
“The coming together of Peak and Dale Group and Bean Interactive is a harmonious blend of technological prowess and creative ingenuity. Peak and Dale’s deep-rooted expertise in tech and communications, coupled with Bean Interactive’s reputation for groundbreaking marketing campaigns, creates a synergy that is poised to redefine industry standards,” Peak and Dale said in a statement.
The acquisition is the latest in a series of consolidations in the advertising sector. In February, digital firm Essence merged with its media arm, MediaCom to form EssenceMediaCom. The M&As in the sector escalated in the early 2010s, with industry leader Scangroup acquiring a stake in Ogilvy East Africa, and global communications firm WPP increasing its stake in Scangroup in 2013. WPP then increased its stake in Scangroup in 2018 as it continued its series of consolidations in its different units on the continent.
Dwindling business, as clients shift from traditional advertising and media buying to digital first communications and advertising, have seen the industry face headwinds. Some players in the sector, such as Redhouse Group and Media Edge Interactive, closed shop in late 2023.
Peak and Dale is betting on the acquisition to bolster its ability to compete with global advertising giants. “This strategic alliance is more than just a business transaction; it’s a testament to the increasing African creative economy. By joining forces, these two homegrown giants are not only strengthening their position in the local market but also positioning themselves as formidable contenders on the global stage,” the company added.
