Leo Burnett Brazil is to be renamed Leo Burnett Tailor Made, after yet another Brazilian agency acquisition by parent company Publicis Groupe, this time of independent advertising company, Tailor Made.
The French company, led by Maurice Levy, has acquired a minority stake in the agency founded by Paulo Giovanni, but could increase its stake to 100% in 2013. Giovanni will take on the newly created role of chairman and chief executive for the agency.
Leo Burnett Tailor Made will work out of Leo Burnett's current offices in Sao Paulo, and will provide its clients with a full range of communications services. With 160 staff, the agency will handle clients including Fiat, Procter & Gamble, Emirates and Chrysler Group.
Tailor Made is the third Brazilian agency Publicis Groupe has bought into this month. Yesterday, it announced it had agreed to acquire GP7, while last week it increased its stake in Talent Group to 60%.
Tom Bernardin, chief executive of Leo Burnett Worldwide, said: "Our objectives for Leo Burnett Brazil are bold and aggressive. With our already strong presence in the market and a reputation for creative excellence, the acquisition of Tailor Made, and most importantly the leadership of Paulo Giovanni, we are better positioned than ever to take advantage of the opportunities in this booming market.
"Paulo is a proven leader and I am delighted to welcome him to the Leo Burnett Worldwide leadership team."