Omnicom-owned agency network DDB Worldwide has acquired independent London firm Adam & Eve for a reported £50m. Adam & Eve, best known for its weepy John Lewis ads, will be merged with DDB’;s London office with its management team securing most senior posts.

The deal comes just four years after the launch of Adam & Eve and will see the company”s founders emerge as millionaires. James Murphy will be CEO of the new company, which will be called adam&eve/DDB.

DDB London has had a tough time recently, losing the Virgin Media account just 18 months after winning it. By contrast Adam & Eve has been on a good run. That said, the merger will lead to some conflicts of interests, with DDB handling the Financial Times and Adam & Eve the Telegraph. There are also potential clashes between John Lewis & Harvey Nichols and Benecol & Flora.