LONDON (ShareCast) - (Sharecast News) - Advertising agency company Mission Group revealed on Monday that it had acquired youth-focussed creative business Livity for £100,000 in cash.

Mission Group said the acquisition of Brixton-based Livity, which counts the likes of Nike, Google, Footlocker, Dr Martens, and more as its clients, will enhance its brand, strategy, creative and content capabilities, underpinning its "Generation Z marketing offering".

The AIM-listed firm added that in the financial year ended 31 December 2020, Livity reported a gross profit of £1.1m, pre-tax losses of £400,000, and had net liabilities of £600,000.

Chief executive James Clifton said: "This latest acquisition is testament to our continued strategy to focus on exploring opportunities that further enhance our compelling infrastructure.

"Our clients and prospects are acutely aware of the growing influence of Generation Z and are eager to explore how they can successfully engage with the youth audience. Livity offers them unparalleled expertise and guidance and I look forward to working closely with the team as we embark on this exciting new phase of growth to realise Livity's full potential."

As of 1130 GMT, Mission shares were down 4.96% at 57.50p.

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