Thinkerbell has announced the exit of PwC Australia’s minority stake in the creative agency.
PwC Australia’s August 2017 investment came just three months after the agency launched as a creative startup. The strategic investment provided Thinkerbell the opportunity to build a world-leading agency and drive growth through powerful, creative ideas.
Margie Reid, Group CEO and Partner of Thinkerbell, said: “We’ve proven that we can do things a little differently and found success. It’s been an incredible journey these last five years, and we have loved our time with PwC. However, all good things must come to an end, and after much deliberation, we’ve mutually decided that it’s best to return PwC Australia’s stake back into Thinkerbell ownership.
“We thank everyone at PwC for their belief and support in Thinkerbell. We value our independence and we are excited about what the future holds.”
Adam Ferrier, chief thinker at Thinkerbell said: “Thinkerbell has grown from a few people in a share house to an agency of around 160 people across Melbourne, Sydney and New Zealand. It’s time to part ways and explore our next adventure. This is a corporate conscious uncoupling, but to quote the song ‘every new beginning comes from some other new beginning’s end.’”
Thinkerbell will continue to support PwC Australia as one of its agency partners.
This comes after the agency was named in the Hot List May 2023, as tracked by Mediaweek contributing editor and MFA Hall of Famer Greg “Sparrow” Graham.
Sparrow praised Thinkerbell for their outstanding work really keeps them sizzling and lately they have recreated some iconic work.
“I love it when Thinkerbell brings back legendary Aussie work such as “I Feel Like a Toohey’s” for Lion. The original jingle by Mojo and Alan Morris recreates in such a compelling way, wonderful nostalgic memories. Plus, great new work for Mars Wrigley with Rolling Stone magazine for paper-based wrappers for Mars bars, Snickers and Milky Way,” he added.
See also: Mediaweek Hot List May 2023: Atomic 212º and Thinkerbell on top