Hernan Ponce will be president and Fernando Vega Olmos vice president of the new agency, which is to be called VegaOlmosPonce/APL. Mr. Ponce will maintain a majority equity in the new company.
Formed two years ago, VegaOlmosPonce's major clients already include the newspaper La Nacion, Arcor, Samsung, Adidas and Quilmes Brewery. The agency has already won 10 Lions at the Cannes International Advertising Festival. APL's biggest clients in Argentina include Unilever, Johnson & Johnson and Iridium.
This is APL's fifth general agency acquisition since Chairman-CEO Martin Puris appointed Philip Palazzo president, international operations 18 months ago to upgrade network capabilities. Other APL acquisitions include Valmorisco in Spain, Storm Communications in Hong Kong, Baader Lang Behnken in Germany and Column Advertising in South Africa.
Copyright April 1999, Crain Communications Inc.