The supermarket chain is expected to draw up a shortlist of five to pitch for the business, including the incumbent, Miles Calcraft Briginshaw Duffy.
Richard Hodgson, the buying director for Waitrose, is handling the pitch, which comes six months after Chris Cull, the marketing director, left to join BSkyB, and Mark Price was made the managing director.
MCBD has held the account since 2005, when it merged with HOW, the incumbent on the business. Its most recent campaign launched in May and emphasised the supermarket's commitment to supporting local suppliers.
Manning Gottlieb OMD, which handles media, and Kitcatt Nohr Alexander Shaw, which works on direct marketing, are unaffected.
A spokeswoman for Waitrose confirmed that a review was taking place.
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