Leap Group Buys Kang & Lee to Diversify

Leap Group Inc., a Chicago-based agency, expanded its presence in multicultural marketing Wednesday by acquiring privately held Kang & Lee Advertising Inc., a New York-based firm with a 25-person Los Angeles office. Financial terms of the deal weren’t disclosed. Kang & Lee, which reported $60 million in billings, specializes in marketing to Asian consumers. Among its clients is Bank of America. Leap Group earlier acquired YAR Communications Inc., a New York-based agency that targets Hispanic, Western and Eastern European and Middle Eastern consumers. Leap Group said the deal was unlikely to prompt cutbacks in Los Angeles, where it has experienced management turnover.