RIO DE JANEIRO--J. Walter Thompson Co. has acquired 49% ofMaster Comunicacao, one of the leading ad agencies outside the Rio deJaneiro/Sao Paulo markets, Master Comunicacao. The deal could evolve to amajority stake in the future.
Financial details of the deal were not revealed by Alvaro Novaes,president of the ad agency for the past 12 months.
Master is particularly strong in the Brazil's southern region and in thecapital city Brasilia where it holds several government accounts like theministry of health.
Antonio Freitas, president of Master, says that while the agency willadd the name JWT to its name, the agency remains completely independent.
Ranked in the country's Top 20 agency league table, the agency posted anincome of $8.5 million last year. Clients include the Parana government,Fiat sales network of Parana and Telecom Italian Mobile.
The agency has several divisions including Master Promo specializing inpromotional marketing, Master Direct WebMaster in interactive advertisingand ProMaker, a promotional unit targeting the international market.
Copyright November 2000, Crain Communications Inc.