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Berlin has been sold to Duval Union

Brussels – Corporate Finance International (‘CFI’) is pleased to announce that it has acted as the exclusive corporate finance advisor to communication agency Berlin in its sale to Duval Union. 

Berlin is an Antwerp-based communication agency, which was founded in 1994 and owned by its three Managing Partners. Berlin positions itself as a pivotal communication agency offering a 360° approach for its internationally operating corporate customers. Berlin has a recurring base of well-known customers both in food production and distribution and in pharma.

With two of the three Managing Partners stepping down, Berlin was looking for a strategic partner to pursue its longer-term ambition. Duval Union is long-standing established and reputed marketing company consisting of several specialized agencies covering all aspects of marketing ranging from branding, content creation, digital capabilities, web design, PR etc. Duval Union’s complementary service offering will support Berlin in its further development.

CFI was called in to advise the founders on the different strategic options. A discrete, well-targeted auction involving a limited number of pre-selected agencies in the Benelux were approached. Despite the Covid-19 crisis the sales process resulted in a successful sale to Duval Union.

CFI initiated discussions and negotiations in a process, which ultimately resulted in a successful sale to Duval Union that closed on 4 May 2021. This transaction illustrates CFI’s continued M&A activity in (digital) marketing and communication services and reinforces its track record of orchestrating (cross-border) exits in marketing services, as recently demonstrated by the sales of Netvlies to 4NG and Blauw Gras to Ace, as well as the sales of Luon, Snackbytes and Frontmen to Intracto.


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