Horizon Media Wins Kohl's Business As Retailer Ponders M&A Proposals

Department store chain Kohl’s has selected Horizon Media as its new media agency after a formal review that began in January.

The incumbent was Zenith, part of Publicis Media, which had serviced the account for nearly a decade.

According to agency research firm COMvergence, Kohl’s spends about $240 million on media annually.

A Kohl’s spokesperson issued this statement from the company: “We have selected Horizon Media to lead our traditional buying following an agency review. Horizon Media will support Kohl’s continued efforts to reach and engage with our customers in new and impactful ways.”

Word of the decision coincides with separate news that the company won a proxy battle against activist investor Macellum which had put up a slate of 10 alternative board directors to run the company. Yesterday shareholders voted to re-elect the 13 directors currently in place.



The company is also considering several M&A proposals. CNBC reported in March that Canadian retailer Hudson’s Bay, owned by HBC, has made a proposal. Separately it reported that an offer was made by private equity firm Sycamore and Acacia Research which is backed by investor Starboard Value.

Kohl’s has acknowledged receiving multiple buyout proposals. Yesterday it said in a statement that “the Board remains focused on running a robust and intentional review of strategic alternatives while executing our strategy to drive shareholder value.”



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