NEW YORK, Aug. 5, 2016 /PRNewswire/ -- Grey Group, the
global marketing communications company, today announced that it
has acquired a majority stake in Maruri Publicidad S.A. ("Maruri"),
the leading full-service communications firm in Ecuador. The
agency has had a partnership with Grey since the early 1990s.
In making the announcement, James R.
Heekin III, Grey Group Chairman and CEO, said, "We are
delighted to conclude this agreement with Eduardo Maruri and his stellar management
team. Maruri is a premier total communications company,
renowned for its creativity and represents another step forward in
expanding our capabilities in the fast-growing Latin American
region."
Founded in 1991 by Jimmy Maruri
and his son, Eduardo, the agency employs 130 people at its main
office in Guayaquil and one in Quito. Maruri's revenues were
almost $10 million in 2015 from such
blue-chip clients as DIRECTV, SABMiller and La Fabril. The
full-service agency provides advertising, media buying, promotional
and activation marketing, sponsorships, digital communications,
public relations and production services. Its management
team, led by Eduardo Maruri, CEO and
COO, and Fausto Maruri, General
Manager, will continue to oversee the company under the banner of
Maruri Grey.
Alain Groenendaal, President and
CEO of Grey Latin America, said, "Bringing Maruri Grey officially
into the Grey fold is very gratifying. Eduardo, Fausto and
their team have done a terrific job embracing Grey's creative
culture and 'Famously Effective' mantra, which has led to a
pioneering performance in Cannes
and an impressive record in new business. This acquisition
also reinforces our belief in the long-term growth of the
Ecuadorian market, as part of Grey's commitment to being a leading
network in Latin America."
Maruri is the clear market leader in Ecuador, especially recognized for its
creative capabilities. It was named agency of the year by the
local industry trade association 12 times and, internationally, has
won 30 Lions at the Cannes Lions International Festival of
Creativity in just the last five years. It has also won 15
Latin American Effie awards for advertising effectiveness.
Eduardo Maruri said, "This change
from being Maruri to Maruri Grey is simply a consolidation of the
strong relationship and mutual benefits we have enjoyed for over
two decades. We are confident Ecuador can play an even more important role
in the region in the years ahead."
About Grey
Grey Group ranks among the largest global communications
companies and its parent company is WPP (NASDAQ: WPPGY). With
headquarters in New York City,
Grey operates in 96 countries and 154 cities. Under the banner of
"Grey Famously Effective since 1917," the agency serves a blue-chip
client roster of many of the world's best known companies and
leading brands. Grey was voted Global Agency of the Year by Adweek
in 2015. www.GREY.com.
Contact: Owen Dougherty
212-546-2551
owen.dougherty@grey.com
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SOURCE Grey