• by Joe Mandese , February 5, 2025

At a time when most big agencies are transforming their media operations for a new age of commerce media, Havas Tuesday announced it has acquired a majority stake in fast-growing commerce media agency Channel Bakers.

The agency, founded in Los Angeles in 2015 by CEO Joshua Kreitzer, did not disclose billings, but boasts a global team of 80 people operating on four continents with a heavy emphasis in Asia-Pacific and Europe.

Havas did not disclose the amount of the investment or its share of equity other than to say it was a majority stake, but it appears to be the first major investment by Havas Media Network since the holding company was spun off from Vivendi late last year.

It also signals part of a broader shift among the big agency holding companies, which have either accelerated the organic growth of their own internal retail media and digital commerce units, or have made big outside bets to acquire them -- including Omnicom's nearly billion-dollar deal to acquire Flywheel Digital last year.

"This majority stake acquisition signals our unwavering commitment to helping clients seize the immense potential of commerce transformation," Havas CEO Yannick Bolloré stated.

Characterizing the deal as "a partnership," Havas Media Network North America CEO Greg James said Channel Bakers "reinforces Havas media mix offerings, but also allows us to scale our e-commerce capabilities and Havas Market practice exponentially."

That said, Channel Bakers will continue to operate as a freestanding entity led by founding CEO Kreitzer, reporting to Havas Media Network's James.