SALES LEADS LATAM: Lego, Elizabeth Arden, Cargill, MEC/ Maxus…
A summary for Corporate Marketers, Media Sales Executives and Advertising Agencies to see what clients are moving into the market and/or targeting Latin American consumers right now.
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Toy manufacturer the Lego Group has launched a review of its global media planning and buying business, according to AdWeek. Lego might be looking to consolidate its media duties into one agency network. Starcom is the US incumbent since 2000.
WPP’s MediaCom has won global media duties for Elizabeth Arden, effective July 1. PHD was the incumbent. Arden spent an estimated US$22 million on ads in the U.S. last year down from US$27 million in 2015, according to Kantar Media. Global figures weren’t available but most of the client’s ad expenditures are earmarked for the U.S., per sources. MediaCom is the media agency for Revlon, which purchased Elizabeth Arden last year for US$870 million. The client decided it made business sense to consolidate the accounts under one agency.
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WPP’s media buying unit GroupM has merged media agencies MEC and Maxus to cut costs, since the two agencies have overlapping capabilities. There isn’t a name yet to the firm that will be led by MEC CEO Tim Castree. GroupM will invest the savings from the merger to expand digital agency Essence, which GroupM acquired in 2015, into a data-driven full-service media shop. Essence will be able to apply digital and addressable techniques to traditional media channels like TV, out of home and radio. The Maxus and MEC merger follows similar moves at other major agency holding companies to streamline commoditized media buying services.
Grupo Axo, a leading multi-brand retailer in Mexico, announced that General Atlantic, a leading global growth equity firm, has agreed to make a strategic investment in the Company. As part of this transaction, Alsea, a leading Mexican multi-brand restaurant operator, will be fully exiting its position in the Company. The transaction is subject to customary closing conditions and authorization by the Mexican Antitrust Commission.Grupo Axo is one of the largest and fastest growing retailers in Mexico, operating over 500 retail points of sale and more than 3,100 wholesale points of sale in department stores. The Company owns the exclusive rights to commercialize more than 20 leading international brands in Mexico, under licensing agreements and joint ventures. Grupo Axo owns and operate Promoda, the leading off-price retailer in Mexico with 140 stores.Grupo Axo intends to drive its next phase of growth by enhancing its retail footprint through its licensed brands, bringing more internationally prominent brands to the region, and continuing to expand its off-price business's, Promoda's, reach to consumers. In conjunction with General Atlantic's investment, Luis Cervantes, Martin Escobari and Andrew Ferrer will be joining Grupo Axo's Board of Directors. General Atlantic has deep regional expertise across Latin America, with current regional investments in Clip, Despagar.com, Ourofino, Pague Menos, SAS, Sanfer, and XP Investimentos.
Swiss-based food company Nestle SA is creating thousands of jobs and investing in new factories in Latin America as it looks to tackle social issues and shore up its position in one of its strongest marketsThe initiative follows a similar project carried out by Nestle in Europe in recent years, where some countries are just beginning to recover from a youth unemployment crisis.The company employs some 60,000 people in roles ranging from factory operatives to veterinarians in Latin America.
Cargill Inc. has acquired a leading chicken company in Colombia, marking its foray into that nation’s protein market.The Minnetonka-based agribusiness giant announced Thursday the purchase of Pollos El Bucanero S.A. — or Bucanero Chicken — for an undisclosed sum. The company is a consumer brand, selling packaged chicken and processed meats in retail stores and through food service channels.Bucanero has been in the chicken business for more than 30 years and has grown quickly. Cargill appointed Jorge Ivan Duque, who has spent 12 years working in the poultry sector in Central America and Colombia, as general manager of its Pollos Bucanero business.It will operate under Cargill Protein Latin America, which has businesses in Costa Rica, Guatemala, Honduras and Nicaragua.Bucanero, which sources from more than 170 farms across Colombia, employs about 5,000 people in the country. These employees bring Cargill’s total workforce in Latin America to 35,000 across 14 countries.
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Celeste Martorana @celesmartorana
Celeste joined Portada’s team in 2014. Since then, she has been working as an editor for Portada’s English-language website and compiling information for Portada’s Databases.