Publicis Acquires Brazilian NEOGAMA/BBH
Publicis announced that it has acquired 100% of the shares of NEOGAMA/BBH in Brazil (34% from BBH and 66% from its founder, Alexandre Gama and his partners). NEOGAMA/BBH is a creative agency in Brazil with clients like Banco Bradesco, Johnnie Walker-Diageo, TIM, OMO and Renault.
NEOGAMA/BBH is headquartered in Sao Paulo, with an office in Rio de Janeiro, NEOGAMA/BBH employs a staff of approximately 270. The agency´s revenue reached 42.2 million euros. NEOGAMA/BBH will retain its name and will continue to be led by its founder and Chief Creative Officer Alexandre Gama. Two of NEOGAMA/BBH's affiliate agencies, Triacom and Made in Moon, units providing digital and retail consulting services respectively, also become part of Publicis Groupe through this deal.
This acquisition is part of the transactions between Publicis Groupe and BBH. Publicis has acquired 51% of the shares of the Bartle Bogle Hegarty (BBH) network - in which Publicis Groupe has already held a 49% stake for many years - from its founders Nigel Bogle and Sir John Hegarty, and their partners, bringing the Groupe's ownership to 100%.
BBH has developed a micro-network, with offices in London, New York, Sao Paulo, Singapore, Shanghai, Mumbai and Los Angeles, and employs some 1000 professionals worldwide. Revenue for the BBH micro-network (excluding Brazil) reached 112.2 million euros in 2011. Publicis Groupe has held a minority share of 49% of the agency since 2002, when the group acquired Bcom3.
Maurice Lévy, Chairman and CEO of Publicis Groupe said: “These transactions will enable the unification of the BBH network”. He added “ "Viva la Difference," we have decided, together with Nigel, John and Alexandre, to engineer an integration that will preserve and protect their specific culture, their working methods, and the characteristics of the agencies through an approach of "autonomy inside" the Groupe”.
Sir John Hegarty has appointed Alexandre Gama to succeed him as Worldwide Chief Creative Officer (WCCO). Simon Sherwood, previously Group Chief Executive Officer, takes over as Group Chairman. Gwyn Jones, who joined BBH as part of the first graduate intake in 1987, becomes Group Chief Executive Officer and Neil Munn, CEO of BBH's brand ventures company Zag, takes on the Group Chief Operating Officer role in addition to his current role.
Nigel Bogle, Founding Partner and Sir John Hegarty, Founding Partner - Creative, will remain active on client business but will transfer executive responsibility to this management team. In addition to remaining closely involved with many BBH key accounts, Nigel Bogle will also continue to coach and mentor the new management team. Given his stature as a celebrated global creative leader, Sir John Hegarty will continue to champion creativity and represent BBH on the global stage as well as key client assignments.
The Board of the BBH holding company will consist of three members of the Publicis Groupe Management Board - Maurice Lévy, Jean-Yves Naouri, and Jean-Michel Etienne - as well as Steve King, Global CEO of ZenithOptimedia, Nigel Bogle, Sir John Hegarty and Simon Sherwood. This board will delegate full responsibility and authority for the day-to-day management and operation to a BBH Global Management Team led by Gwyn Jones.
Simon Sherwood, Group Chairman, will now chair the new BBH Board as well as the Global Management Team, in addition to overseeing important client relationships. Gwyn Jones will take up the Group Chief Operating Officer role. And Gwyn will be supported by Neil Munn who steps into the role of Group Chief Operating Officer.
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