WPP Buys Zubi Advertising — finally :-)
What: WPP's GTB is acquiring Hispanic-focused advertising agency Zubi Advertising Services. The transaction had been rumored in the market for many years and only came to fruition now.
Why it matters: Zubi was one of the very few still independent Hispanic advertising agencies as most have been acquired by global agency conglomerates. Zubi is headquartered in Coral Gables, Florida with offices in Los Angeles and Detroit and its' client roster includes Ford Motor Company, J.P. Morgan Chase Bank, N.A., and Dunkin' Donuts.
GTB announced the acquisition of Zubi Advertising Services, Inc. ("Zubi"), a full-service advertising agency that focuses on the Hispanic market in the US.
The acquisition and integration of Zubi into GTB's offering represents a strategic move for the agency as its clients are increasingly aiming to connect effectively with the Hispanic consumer. The U.S. Census expects the Latin population to more than double with the next two generations.
Founded in 1976 by Tere Zubizarreta -- to service her first client, Banco Popular -- Zubi is headquartered in Coral Gables, Florida with offices in Los Angeles and Detroit. Zubi employs approximately 120 people and has a blue chip client roster that includes the likes of Ford Motor Company, J.P. Morgan Chase Bank, N.A., and Dunkin' Donuts.
"This affiliation is part of our evolution to provide our clients with best-in-class resources and to work together to grow through new business opportunities. Michelle and I are confident that the legacy of Tere Zubi will continue for decades to come," said Joe Zubi, Chief Operating Officer, whose sister, Michelle Zubi, currently serves as the firm's Chief Administrative Officer.
"We're delighted to welcome Zubi into the GTB family," said Satish Korde, GTB's Global Chief Executive Officer. "Zubi does outstanding work and exhibits an authentic culture of extraordinarily talented people. For GTB, this acquisition exemplifies our approach to bring the best to bear for our client."
Now a key part of an agency team that spans across six continents, Zubi will benefit from the diverse resources of the WPP group of companies. The acquisition continues WPP's strategy of investing to strengthen its "horizontality" offer to clients by enhancing the capabilities of its global client teams, such as GTB, and in important markets such as the US.