• by Joe Mandese  @mp_joemandese, November 12, 2008

Tokyo-based agency holding company Dentsu Holdings this morning announced the acquisition of New York-based mcgarrybowen, a relatively hot, but fast-growing agency founded in 2002. Terms of the deal were not disclosed, but mcgarrybowen is a fully-service shop offering both traditional and digital advertising and handles clients including JPMorgan, Chase, Kraft, Disney, Marriott International, Chevron, Pfizer, HP, Reebok International, Crayola, InBev, Century 21, News Corp, The Wall Street Journal and the U.S. Olympic Committee. Billings also were not disclosed, but Dentsu claims mcgarrybowen now ranks as the 10th largest "independent" agency in the U.S.

The deal is the outgrowth of a commitment Dentsu chief Tatsuyoshi Takashima made two years ago to grow the Japanese ad juggernaut's presence globally, particularly in the U.S. marketplace. Dentsu has had an erratic history in the U.S., including a short-lived joint-venture with Young & Rubicam (now part of WPP Group), that ultimately became part of the basis for Dentsu America.

Dentsu established its first wholly owned U.S. ad subsidiary, DCA Advertising, in 1994, and in 2006, re-branded it as Dentsu America.

In October 2007, Dentsu America bought Attik, an ultra hot San Francisco-based design shop best known for the its work launching Toyota's Scion brand.

In March 2007, the Santa Monica office of Colby & Partners - a subsidiary of Dentsu Holdings - also was absorbed by Dentsu America and combined with its existing office in Marina Del Rey. That office was renamed Dentsu America Los Angeles.