Publicis Swallows Brazilian Ad Agency

Publicis Groupe has taken control of Neogama, a Brazilian advertizing firm, as part of a larger deal for a British player. The French communications group has agreed to acquire 66% of Neogama shares from founder Alexandre Gama and his partners, and will receive 34% through an agreement to acquire control of UK-based Bartle Bogle Hegarty (BBH). It does not disclose the value of the purchase, and a spokeswoman declines to comment. Neogama, which booked EUR42m ($52m) in revenue in 2011 and has been working in partnership with BBH since 2002, will keep its name. KPMG advised Publicis, while Estater advised Neogama.