Euro RSCG Worldwide has purchased Spanish agency Grupo Lorente, merging it with its own unit in Spain. Terms were not revealed.
Lorente is a full-service shop with offices in Madrid and Barcelona; it specialises in advertising, marketing, PR, media and interactive services. The newly combined unit is rebranded Euro RSCG Lorente and becomes Spain’s number six shop with billings of 260 million euro.
Euro RSCG Europe’s chairman/ceo Pierre Lecosse commented that Spain is now Europe’s most rapidly growing market. He added that the merger would help strengthen ties between European and Latin American agencies.
News Source: CampaignLive (UK)