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Publicis moves in Latin America

Published on .

France's Publicis Group has taken its first steps into Latin America with two agency acquisitions. Publicis said today it has acquired a 60% controlling interest in Norton Publicidade, Brazil's 12th largest agency. Over the weekend Publicis bought a 51% stake in the Mexico's Romero Y Asociados..

The move is the first since Publicis and True North decided in March to end their agreement to work together around the world. The acquisitions indicate Publicis isn't relying on the True North alliance to be revived. Maurice Levy, chairman-CEO of Publicis, points to the "great potential" in the Latin American advertising markets. Clients of Norton, with billings of $95 million, include Nestle, Alpargatas, Rayovac batteries, the Brazilian Postal Service, General Electric, Sul America Seguros and Wal-Mart. Romero Y Asociados' clients include Nestle, Kimberly Clark and Reckitt & Colman.

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