NEW YORK, June 12, 2014 /PRNewswire/ -- Grey Group today announced that it has agreed to acquire a majority stake in Circus Peru S.A. ("Circus"), the largest independent advertising agency in Peru.
In making the announcement, James R. Heekin III, Grey Group Chairman and CEO, said, "We are delighted to welcome Circus to Grey Group. Circus is a premier total communications company, renowned for its creativity, and represents another step forward in expanding our capabilities and footprint in the fast-growing Latin American region."
Founded in 2008, with headquarters in Lima, Circus is a full-service, integrated marketing company with revenue of $12.1 million in 2013. Its subsidiaries include Circus Interactive, Circus Retail, Circus Experience, Brand Lab, a design company, and Carne, a second advertising agency.
The current Grey Peru will be integrated into the Circus group of companies and the organization will be renamed Circus Grey. Circus Grey will employ over 200 people and will serve such blue-chip clients as Procter & Gamble, Grupo Credito, Grupo Falabella, Claro and San Fernando, among others. Circus' management team, led by Juan Carlos Gomez de la Torre, President and Chief Creative Officer, and Marco Milesi, CEO, will continue to lead the company.
"This partnership will make both parties stronger," said Marco Milesi, CEO of Circus. "Circus will gain access to Grey's incredible network and resources. Grey will benefit from our record of impressive growth and award-winning creative output."
Alain Groenendaal, President and CEO of Grey Latin America, said, "I have known and worked with the principals of Circus and watched as they've built this impressive agency. 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."
"Two companies with shared values are joining forces," said Juan Carlos Gomez de la Torre, President and Chief Creative Officer of Circus. "Grey's motto: 'Famously Effective Since 1917' meshes with our philosophy. We, too, believe in work that taps into pop culture and achieves great effectiveness through creative brilliance."
According to the 2013 Global Effie Index Ranking, Circus is the third most effective agency office in the world.
Grey Group ranks among the largest global communications companies and its parent company is WPP (WPPGY). With headquarters in New York City, Grey operates in 96 countries and 154 cities. Under the banner of "Grey Famously Effective since 1917" Grey serves a blue-chip client roster of many of the world's best known companies and leading brands.
Grey was voted 2014 Agency of the Year by Advertising Age; 2013 Global Agency of the Year by Adweek; 2013 SHOOT Agency of the Year; 2013 and 2012 Euro Effies Agency of the Year and Fast Company named Grey to "The World's 50 Most Innovative Companies." Grey was honored in Creativity's A-list of the 10 Most Creative Agencies in the World 2013, as well as taking top honors as Forbes magazine's "Best All-around Ad Agency."
For more information, visit www.GREY.com
Contact: Owen Dougherty