MIAMI: Havas Group has acquired a stake in Miami-based multicultural marketing agency Republica.
As part of the deal the firm will be renamed Republica Havas and will keep its Miami headquarters, according to a statement. Havas also said it plans to expand Republica to New York, Chicago, and Los Angeles.
Republica chairman and CEO Jorge Plasencia and president Luis Casamayor, along with their executive team, will remain at the firm and report to Paul Marobella, chairman and CEO of Havas Creative, North America. An agency spokeswoman said there will be no staff reductions and the company may even add employees as it expands.
The spokeswoman would not disclose the deal’s dollar figure.
Plasencia and Casamayor founded Republica in 2006. The agency has 120 employees and focuses on cross-cultural comms services including strategy, creative, research, media planning and buying, analytics, digital, and PR.
Republica clients include Walmart, Toyota, Google, Nielsen, Four Seasons Hotels and Resorts, NBCUniversal Telemundo, Universal Parks & Resorts, and the 2020 Miami Super Bowl 2020, according to a statement.
Editor's note: This story was updated on September 12 to clarify that Havas Group has acquired a stake in Republica.