Publicis Groupe makes second investment in Brazil
Date added: 28th April, 2011 at 10:30
(view all articles from April, 2011)
Categories: Economy
Publicis Groupe has made an investment in Brazil just one week after buying out another company from the country.
The marketing communications firm recently purchased Talent Group and has now acquired Sao-Paulo based GP7.
Executive chairman of Publicis Worldwide Jean-Yves Naouri said the move would help the company extend the services it offers.
"GP7 is yet another step forward in Publicis Worldwide's growth strategy in Brazil, which is now its third regional market," he stated.
The advertising agency is to be rebranded Publicis Red Lion and the chief executive officer of GP7 Joao Fernando Vassao will join the group's 1,200 Brazilian employees to become managing director of the new venture.
According to ZenithOptimedia predicitions, Latin America's largest economy will rise to be the sixth biggest advertising market in the world this year, Publicis Group highlighted.
Partner at Apax Partners Alex Pellegrini recently told Deal Magazine his firm's acquisition of a Sao Paulo outsourcing company was a move made to take advantage of consumer growth in the country.
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