BUENOS AIRES: The already hot Argentine market looks set to heat up even further in upcoming weeks, with GCI Group and BSMG reportedly closing in on acquisitions in the country.
BUENOS AIRES: The already hot Argentine market looks set to heat up
even further in upcoming weeks, with GCI Group and BSMG reportedly
closing in on acquisitions in the country.
After failing to complete a deal with three potential candidates in
Argentina last year, GCI is deep in talks to acquire Personally. That
firm, headed by Alicia von der Wettern and Laura Palermo, is considered
one of the country’s premier agencies and holds prestigious
multinational accounts with Pepsi, IBM and Procter & Gamble. Boasting
annual billings of around dollars 1 million, Personally has also done
media relations in Argentina for GCI’s parent, Grey Advertising.
If the deal is consummated, it would end a protracted and frustrating
courtship period in the country for GCI. The agency was close to
acquiring Muchnik, Alurralde, Jasper & Asociados in January, but the
Argentine firm abruptly switched gears and sold a minority stake to
Manning, Selvage & Lee. Talks with two other local PR agencies, GM
Comunicaciones and Goldenberg, also proved fruitless.
BSMG, on the other hand, has targeted MP&M, a top-10 Argentine agency
boasting star clients like Telefonica. Headed by arts guru Julio Suaya,
MP&M is ranked third in the country with billings of dollars 3.5