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Code and Theory

sold to

The Stagwell Group

January 2016


About the Client

Code and Theory was founded in 2001 by Dan Gardner and Brandon Ralph and creates products, content and campaigns for leading companies across physical and digital worlds. Code and Theory is known for redefining media platforms for clients like Bloomberg, the Los Angeles Times, the
Huffington Post, Vogue and Mashable, and enabling brands like Maybelline New York and BURGER KING® to connect with new and existing consumers. The agency is headquartered in New York City with offices in Atlanta, London, San Francisco and Manila, the Philippines.  

About the deal

Code and Theory, an independent creative agency, has been acquired by The Stagwell Group. Code and Theory will continue to operate independently within The Stagwell Group LLC as a standalone agency run by the current management team. Co-founders Dan Gardner and Brandon Ralph
continue to hold a minority ownership stake.


“We are a company full of creative people, not traditional businesspeople, and we believe The Stagwell Group is the right partner as we continue to grow our firm and do great work for our clients,” said Dan Gardner, co-founder.
“Code and Theory is very proud of what we’ve accomplished as a team,” said Brandon Ralph, cofounder. “We’re looking forward to working with Stagwell to take our company to the next level.”

Transaction led by GP Bullhound’s New York team while part of AdMedia Partners