Grey Acquires Majority Stake in Peru’s Biggest Agency
Posted in: UncategorizedWPP’s Grey Group has expanded its Latin American presence by acquiring a majority stake in Circus, the largest independent agency in Peru.
Circus, a full-service shop that includes multiple subsidiaries and a second agency called Carne, will be absorbed into existing Grey Peru operations under the Circus Grey heading. The newly formed entity will employ 200 people and serve clients including Procter & Gamble and Latin American names like Grupo Credito, Grupo Falabella, Claro and San Fernando.
Grey Latin America President/CEO Alain Groenendaal writes:
“This merger will give Grey a stronghold in one of Latin America’s most dynamic economies and our network, will in turn, empower Circus to serve Grey’s multinational clients on a regional scale.”
Here’s a nugget from the press release: according to the 2013 Effies, “Circus is the third most effective agency office in the world.”
We’ve got some commentary from Results International, the group that advised WPP on the deal, after the jump in case you’re interested.
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