Fernando Ocaña, CEO of the Madrid-based advertising agency Tapsa, wants to acquire advertising agencies in Argentina, Chile, Mexico, Brasil and in the U.S. In the U.S., he wants to acquire an agency targeting the U.S. Hispanic market, preferably based in New York.
Tapsa has already started to talk to agencies in these countries. Ocaña will be in Miami during the current month to meet several Latin American and U.S. Hispanic Advertising executives.
Tapsa buys media for companies including Iberia and Endesa that have an important presence in Latin America and the U.S. Hispanic market.
Ocaña recently told Spanish financial daily Cinco Dias that the main criteria for the acquisition is that the agency play an important role in their national advertising markets. They also need to share their creative strategy with Tapsa Spain. For its U.S. acquisition, Ocaña wants to have a strong portfolio of clients. In addition, the acquisition candidate’s core strategy should be to expand Hispanic market activities. “We could try to go to the U.S. and start from zero, but that is a much slower process,” Ocaña said.
Tapsa, which also has offices in Barcelona and Seville, was founded in 1981 and employed 202 people when it was acquired by WPP. WPP said Tapsa had 2006 revenue of $42 million. WPP also acquired TAPSA’s related companies: Contacto Total, S.L., a direct, promotion and relationship marketing company with on-line capability; and CICM, a media investment management business.