Wasn’t it just yesterday that Publicis Groupe announced that it acquired Sao Paulo shop GP7? Anyhow, the holding company’s acquisition spree continues in Brazil with the purchase of indie agency Tailor Made. As a result, TM will be integrated into Leo Burnett Brazil and the new entity will be named, you guessed it, Leo Burnett Tailor Made.
The rebranded agency will be led by Tailor Made founder Paulo Giovanni, who will serve as CEO. Leo Brazil’s current Sao Paulo office will serve as HQ of the 160-strong LBTM, which will service clients ranging from Fiat and Chrysler Group to P&G and Walmart/Sam’s Club. For now at least, Publicis Groupe will acquire a minority stake in the new operation, with the chance to increase its ownership to 100 percent by 2013. In a statement, Leo Burnett worldwide CEO (and HumanKind co-author) Tom Bernadin says, “Our objectives for Leo Burnett Brazil are bold and aggressive. With our already strong presence in the market and a reputation for creative excellence, the acquisition of Tailor Made, and most importantly the leadership of Paulo Giovanni, we are better positioned than ever to take advantage of the opportunities in this booming market.”
According to ZenithOptimedia’s 2011 forecasts, Brazil is set to become the sixth largest ad market in the world this year so maybe Bernadin’s right about the “booming” part.