Brazil’s Grupo ABC Sells 20% Stake To Private Equity Group
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Brazil’s Grupo ABC advertising and marketing group is selling a stake of about 20% for $84 million to a Sao Paulo-based private equity firm and hedge fund called Kinea.
Grupo ABC is ranked by Ad Age as the world’s 18th largest agency company, with worldwide revenue of $448 million in 2011 from about a dozen agencies and marketing services companies, almost all in Brazil. Holdings include Brazilian ad agency Africa and a 40% stake in DDB Brazil, and U.S. agency, San Francisco-backed Pereira & O’Dell. Grupo ABC was started in 2002 by Nizan Guanaes, a former head of DDB in Brazil, with several local partners.
Guga Valente, ABC’s chairman, said the investment will enable Grupo ABC to continue growing and making acquisitions, largely in Brazil.
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