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Omnicom and TBWA announce the acquisition of the Brazilian agency Mood
The global advertising network has acquired a majority share in Mood, which becomes part of TBWA Group Brazil and continues to be headed by Augusto Cruz Neto
|By PR Newswire
|March 19, 2014 10:03 AM EDT
NEW YORK, March 19, 2014 /PRNewswire/ -- TBWA Worldwide today announced the acquisition of an advertising agency in Brazil, Mood. TBWA, an Omnicom Group Inc. (NYSE: OMC) advertising network, will take a majority share in Mood, headed by Augusto Cruz Neto.
With the conclusion of the deal, Cruz will retain a significant minority share in the company and will continue in the role of president for Mood. The agency will keep its original name, clients and team. "I was courted by many international groups, but I chose a partnership with Omnicom and TBWA because it is a group which respects entrepreneurship and creativity, and also because of my relationship with Luiz Lara, who has always respected our total independence to work," Augusto Cruz Neto said.
The acquisition comes at one of the best times for the agency, which finished 2013 with billings more than R$200 million and a 25% growth rate over the previous period. In the first two months of 2014, Mood also announced it had won business from restaurant chain Giraffas, the sandwich franchise Tostex and the American portable electrical appliances brand Oster.
James Fenton, CFO of TBWA Americas, commented "Mood is an agency I've admired since first being introduced to them several years ago, and I'm excited that they are now part of the TBWA Network. They are an impressive agency with an outstanding creative team and expertise in a broad range of disciplines, taking a truly integrated approach. We see this as a strategic move to continue expanding the capabilities of the TBWA Brazil Group in the fast-moving Brazilian market. Mood's culture of innovation and depth of talent will strengthen our business capabilities, not only in Brazil, but around the TBWA Worldwide network."
Augusto Cruz Neto highlights that taking on a new partner was inevitable in order for Mood to keep growing. "We realized that we needed to partner with a great network to enable us to keep evolving at this pace," he states. "TBWA's proposal recognized the philosophy of an agency based on integrated communications, what we call the '3D Concept.' Therefore the proposal recognized not only Mood's economic value, but also — and most importantly — the brand's potential for the future," he added.
In the market for seven years, Mood is a success case among young agencies in a sector dominated by international groups responsible for a major part of the advertising budget. The company, at first conceived to carry out promotions, activations and events, has proven effective by betting on its multidisciplinary aptitude to gain market share. Driven by contributing to the business success of its clients, Mood's scope of work includes advertising, digital, direct marketing and design. Mood has 85 employees in its Sao Paulo and Rio de Janeiro offices.
About TBWA Worldwide
TBWA Worldwide (www.tbwa.com) is a top ten ranked global advertising network that holds DISRUPTION® at its core to develop business-changing ideas for the brands it works with. The TBWA network includes AUDITOIRE, Digital Arts Network (DAN), E-Graphics, The Integer Group® and TBWA\Media Arts Lab, as well as independent and local TBWA agencies, with 307 offices in 99 countries and over 11,110 employees worldwide. TBWA's global clients include Accenture, adidas, Apple, Energizer, Four Seasons, GSK, Henkel, Infiniti, McDonald's, Michelin, Nissan, Pernod Ricard, Pfizer, Roche, Standard Chartered Bank and Singapore Airlines.
About Omnicom Group Inc.
Omnicom Group Inc. (NYSE: OMC) (www.omnicomgroup.com), a leading global marketing and corporate communications company. Omnicom's branded networks and numerous specialty firms provide advertising, strategic media planning and buying, digital and interactive marketing, direct and promotional marketing, public relations and other specialty communications services to over 5,000 clients in more than 100 countries.
For more news on the TBWA network, please visit http://tbwa.com/news-and-press/
Photo - http://photos.prnewswire.com/prnh/20140319/NY86386-a
Logo - http://photos.prnewswire.com/prnh/20140319/NY86386LOGO-b
SOURCE Omnicom Group Inc.; TBWA Worldwide
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