NEW YORK LatinWorks, the Austin, Texas-based Hispanic shop best known for its Bud Light Super Bowl spots, has acquired a 51 percent stake in Cultura, a Dallas-based Hispanic ad agency.
The acquisition gives LatinWorks controlling interest of Cultura with Omnicom’s Diversified Agency Services (DAS) unit retaining its minority interest (49 percent) in the Dallas shop, said Manny Flores, CEO and managing partner, LatinWorks, in a telephone interview. Omnicom also is a minority stakeholder in LatinWorks.
Per the agreement, Cultura will integrate its business operations, employees and client roster into LatinWorks, adding clients such as Kimberly-Clark, Lowe’s Home Improvement, Mars and the Texas Lottery to a list that includes Anheuser-Busch, Batanga, Domino’s Pizza, ESPN Deportes and Hyundai, Flores said.
A seamless transition is planned to ensure that clients new to LatinWorks receive the same level of service and creative they’ve experienced in the past, Flores said.
“We are very excited to become part of LatinWorks,” said Cultura CEO and GM Greg Knipp, who joins LatinWorks as a managing director. “Together, we will provide our clients with more of what they already receive: respect and value, as well as new ideas and innovations.”
Knipp will work alongside Christy Kranik, who moves to managing director from LatinWorks’ vp, account management, to help clients ease into the changeover. Knipp and Kranik report to Sergio Alcocer, president and chief creative officer, LatinWorks, per Flores.
Clients of both shops were notified of the acquisition late last week, Flores said, capping six months of discussions that resulted in a deal to combine operations.
“The clients are excited about their agency that they used to work with, and they’re also excited about the rocket fuel that the new combined entity will have in helping to propel their brands well beyond their expectations,” Flores said.
Cultura is expected to close its Dallas office by the end of next month and employees are expected to move to Austin by the end of May or June, though Flores said he expects that some will choose not to make the move for family reasons or because of other obligations.
The addition of Cultura staffers will expand the number of LatinWorks’ employees to about 100 from 85, Flores said.
“LatinWorks is a rising star in the Omnicom network of agencies,” Carmen Baez, president, DAS Latin America, said in a statement. “We look forward for big things to come out of this small shop.”