Havas takes stake in multicultural agency República
September 12, 2018. By Megan Graham
One of the largest independent Hispanic agencies in the U.S. is independent no more: República has sold a stake to Havas and will be renamed República Havas.
Havas would not disclose terms of the deal, but did note the stake was significant enough to merit changing República’s name. As part of the deal, República is becoming part of the Havas Creative network in North America.
Miami-based Republica was founded in 2006 by Chairman and CEO Jorge Plasencia and president Luis Casamayor. It offers advertising, strategy, PR, social, digital, media buying and media planning services.
The agency posted 2017 revenue in the U.S. of about $21.3 million, making it the seventh largest Hispanic-American agency in the U.S., behind Publicis‘ Conill, Omnicom’s Alma, Publicis’ The Community and others, according to Ad Age Datacenter. Its clients include Toyota, Google and NBCUniversal Telemundo.
Paul Marobella, CEO and chairman for Havas Creative in North America, said Havas as been doing some multicultural work through its general market agencies, but wanted to amp up that expertise as part of its growth plan in the U.S. The network did not previously own a dedicated multicultural agency.
Marobella said República and its people are also embedded in the fabric of Latino culture. In fact, the Havas executive said that he was driving to dinner with Plasencia last week, Plasencia called Emilio Estefan to tell him the acquisition news (and scored Marobella an invite to Gloria and Emilio Estefan’s upcoming 40th anniversary party).
Plasencia said the agency, which now has about 120 employees, has been courted by potential suitors in past years, including holding companies, private equity firms and “even one of the big entertainment conglomerates.”
“We would always listen, but it never felt right,” he said. “That really changed with Havas.”
The agency will keep its Coral Way office in Miami and plans to open up shop in New York, Chicago and Los Angeles.
Source: https://adage.com/article/agency-news/havas-buys-stake-indie-multicultural-agency-rep-blica/314905/
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Message from
Republica’s Founders
September 12, 2018
When we set out on this journey on November 13, 2006, we had no idea what was ahead of us. We were two (younger) guys with a drive to build something great. Early on, with the help of our team members, we carefully crafted the 14 Principles that have guided Republica these 4,322 days.
And what a ride it has been!
We’ve enjoyed great triumphs and experienced heart-aching loss. We’ve been fiercely entrepreneurial and nimble and have always made an effort to give back to the community. We’ve grown, evolved, and learned from many mistakes along the way.
Our clients have been incredible. They’ve been our partners on this journey. We’ve accomplished so much with them and for them. They’ve allowed us to do groundbreaking work, and we’ve been so proud when that work has received national or global industry accolades. We are so grateful that they have chosen us.
And then there’s our team. The Republica family. Together, we’ve shared so much, including thousands of cafecitos. Many of us have been together through thick and thin for years. And others have joined us more recently. Everyone is part of the story.
Now, the story evolves. The family grows.
We’ve been approached over the years by potential suitors; including holding companies and private equity firms. We would always listen, but it never felt right. We knew that if and when we were to consider some sort of alliance it would have to be on the right terms, with the right people. We knew we would only want a partner that would allow us to keep doing what we love, yet give us a global platform to grow and scale. Maintaining our independence, our team, and our secret sauce, our familial culture, have always been paramount.
We’re beyond excited to inform you that we feel we have found that partner.
We will be joining forces with one of the world’s top marketing and communications companies, Havas. As part of this new venture, we become Havas’ lead multicultural agency partner in the United States.
You may ask why, or why now? The answer is simple. Why not. We recently reached our pinnacle, something we’d worked hard to achieve for years. We’re now Ad Age’s number one independent U.S. multicultural agency. Albeit a fantastic milestone, we can’t rest on our laurels.
As our industry experiences the most significant disruption of our lifetime, we believe that joining forces now with Havas makes perfect sense.
Havas is a global, transformational leader in creative, media, data and analytics. And its parent company, Vivendi, founded in 1835 in Paris, is one of the world’s leading media and entertainment conglomerates, also owning Universal Music Group, France’s Canal +, and Gameloft, among other major assets.
We thought long and hard about this decision.
One of the factors we’re most excited about is the new growth opportunities and many expanded benefits we’ll now be able to offer our employees.
In closing, so many people deserve our gratitude today...our families, our friends and clients, and each individual that contributed in small and big ways to this dream. You know who you are and we thank you all.
And lastly, our name. We will be known to the world as Republica Havas.
We’re now part of this greater family, and we’re so excited to begin this new chapter of our journey, together.
Jorge A. Plasencia, Chairman & CEO
Luis Casamayor, President
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- 12We will be compensated fairly for the value we provide and say no to unreasonable expectations. We’d rather turn down work than take on something that we can’t deliver at the highest level.
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OUR HISTORY
In 2006, Jorge A. Plasencia and Luis Casamayor noisily occupied the corner booth at a Miami eatery as they hashed out plans to build a new kind of agency. It was the same year Twitter launched and that Facebook was starting to reach the masses.
Countless espresso-fueled conversations and strategy sessions had culminated into an important narrative: there was a seismic multicultural and digital shift taking place, and most agencies weren't addressing it.
They founded Republica in November 2006, and within a few short years, with a growing roster of blue-chip clients and garnering industry acclaim, it became one of America’s fastest-growing independent agencies.
Fast forward to July 2018, when Republica achieved the milestone of ranking as Ad Age's No. 1 independent U.S. multicultural agency. Subsequently, in September 2018, Republica announced it had joined forces with Paris-based Havas Group. Havas is part of Vivendi, with numerous assets, including Universal Music Group, Gameloft and France's Canal+. Renamed Republica Havas, the Miami-based agency serves as the global conglomerate's lead multicultural agency partner.
Many of the world’s top brands trust Republica Havas as their partner to connect with the most culturally diverse, technologically-advanced consumer base in history.
Built on a familial culture of caring for the community, Republica Havas continues to be recognized by client partners and the industry as a nimble, effective agency with a reputation for delivering groundbreaking, award-winning work.