NEW YORK (AdAge.com) -- Independent Hispanic agency MGSCOMM is merging with another independent Latino shop, New York-based Reynardus & Moya. Based on 2008 revenue, the combined agency would be the 10th largest U.S. Hispanic ad agency, and one of five independent shops in the Hispanic top 10.
Miami-based MGSCOMM ranked No. 17 in 2008 with revenue of $9.4 million, and Reynardus & Moya was at No. 22, with revenue of $7.6 million, according to Ad Age's ranking of top Hispanic ad agencies.
The founders of MGSCOMM, Manuel E. Machado, the CEO and co-chairman, and Al Garcia-Serra, the chief operating officer and co-chairman, will continue in those roles. Jorge Reynardus will become chief revenue officer and Jorge Moya the chief creative officer of the merged agency.
"It's a good time to maximize efficiencies and economies of scale and talent," Mr. Machado said. "We immediately have a national footprint, and that's significant for our client base and for what's in the pipeline."
The merged agency, which keeps the MGSCOMM name, will have 90 staff in offices in Miami, New York and Mexico City. Reynardus & Moya's clients include Wyeth, Pfizer and Schering-Plough. MGSCOMM works for Southeast Toyota Distributors, Scion, Publix Super Markets, and Tiffany & Co. The agency also handles both general market and Hispanic work for Florida Lottery, Florida Power & Light Company and the Mexico Tourism Board.
The other independent shops in the Hispanic top 10 are Vidal Partnership (No. 2), GlobalHue (No. 4), Lopez Negrete Communications (No. 5) and Zubi Advertising Services (No. 6). Two of the top 10 shops are backed by Omnicom Group, two by Publicis Group and one by WPP.