The MBO was led by Haygarth's founder and chief executive Stephen Morris and managing director Sophie Daranyi after High Co, which is 35% owned by the WPP Group, announced it was to refocus its business away from marketing communications and on to other areas of its European business.
Morris said: "High Co had a number of bidders and we fought hard to regain our independence. It is key that the positive output of renewed spirit, entrepreneurialism and agency pride benefits our clients and all our staff."
Haygarth currently employs 130 staff and, as well as DM, offers digital, promotional marketing, advertising and design services.
Haygarth is also looking to expand the UK-based agency and says it is currently discussing worldwide network opportunities with a number of other agencies, Morris said.
Other Haygarth clients include Dairy Crest, Kerry Foods, Majestic Wine, PepsiCo, Reckitt Benckiser, Signet Group and Sony Pictures Releasing International.
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