Shares of ad agency Young & Rubicam rose Friday after the company landed a $50 million Cadbury-Schweppes global branding account.
Young & Rubicam of New York, beat out Saatchi & Saatchi and True North unit Foote, Cone & Belding to win the business.
Shares of Young & Rubicam rose 1 7/8, or 6.2 percent, to 32 on Friday.
"It was a close contest," said Elaine Hindal, vice president of global marketing for Schweppes. "But Y&R had the edge in the creative work."
The move by Schweppes comes as the company faces fragmented brand messages across the globe. For example, the London-based company is seen as a tonic water brand in its home country and as a bitter lemon drink in Germany. The company is aiming at a more unified effort by naming a single, global agency.
Y&R had already handled Schweppes' business in Australia. Saatchi & Saatchi had handled the account in Europe and Hong Kong, while Foote, Cone & Belding in the U.S.
Shares of Saatchi & Saatchi were unchanged at 11 5/8. True North shares rose 11/16 to 28 3/16.
Cadbury-Schweppes brands include Schweppes beverages, Orange Crush, A&W root beer, Canada Dry, Dr. Pepper, 7-Up, and Motts.
The company spent $2.9 million on U.S. advertising for its Schweppes brand beverages last year, according to ad tracking service Competitive Media Reporting.
The Schweppes global branding account won by Y&R includes Schweppes tonics, ales, and mixers. The agency will continue to handle its separate accounts for Dr. Pepper in the U.S. and some overseas markets; 7-Up in the U.S.
Written By Steve Gelsi