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Parle Products has moved its entire media business to TME-MPG combine. The size of the business win is estimated to be in the range of Rs 45-50 crore.
Pravin Kulkarni, general manager, marketing, Parle Products, has confirmed this development to afaqs!.
However, Anita Nayyar, chief executive officer, Havas Media South Asia, refrained from commenting on this development.
So far, Parle Products' media business was divided between Maxus and TME. While TME handled the confectionary part of the business, Maxus worked on Parle's biscuits and snacks range.
In November 2011, TME, the media planning and buying arm of Rediffusion-Y&R and Everest Brand Solutions, and MPG, the flagship media agency of Havas Media, entered into a strategic alliance to provide value-added media planning and buying services to clients of Rediffusion-Y&R and Everest Brand Solutions.
In May 2010, Parle Products had put its media mandate to review. The results had ended a long-standing partnership between Parle and TME India. While in July 2010, Maxus India was awarded the entire Parle Products portfolio, a month later, Parle brought TME back on its roster.
Parle Products, which is present in the country for nearly 80 years, has been India's largest manufacturer of biscuits and confectionery. Some of the known brands from the Parle Products' stable include ParleG, Krack Jack, Mango Bite, Hide & Seek, and Melody.Major stories over the last 30 days