Euro RSCG has acquired a majority stake in Premier Maldonado & Associates, one of Puerto Rico's leading local agencies. Premier, which works with such clients as American Airlines, Burger King, and DaimlerChrysler, will be renamed Premier Euro RSCG, and has an estimated $65 million in billings and 100 employees.
The deal, for which financial terms were not disclosed, makes Premier Euro RSCG's first agency in Puerto Rico and 14th in the Latin American region. The nearly 40-year-old shop will serve as Euro RSCG's anchor agency in Puerto Rico and the Caribbean.
"Several of Premier's performance factors caught our eye," Eduardo Plana, president of Euro RSCG Latin America, said in a statement, pointing to Premier's strong roster and client retention rate. "This is truly exceptional, especially for an independent agency," he said. Some of Premier's other major clients include Pep Boys, Polaroid, Puerto Rico Telephone and Walgreens.
"Our clients will now have available a wealth of international resources and experience at their reach," said Roberto Oritiz de Paz, adding that they will take advantage of the network's global resources.
Headquartered in New York, Euro RSCG is a network of 221 agencies in 75 countries and is a unit of France's Havas Advertising.