It was announced yesterday by TBWA Worldwide (an Omnicom Group advertising network) that they had acquired Mood, a successful young advertising agency in Brazil after taking majority shares. The agency is headed by Augusto Cruz Neto, who (as part of the deal) will continue in his role as Mood president, and will retain a large minority share in the agency, which will keep all of its team and clients, as well as its original name.
Mood is headed by Augusto Cruz Neto, who will continue in his role as president
Mood has been in the market for seven years, and is a rare success story amongst young agencies in a sector largely monopolised by international groups. The company was first conceived to carry out events and promotions, but over time proved itself by using its multidisciplinary aptitude to gain a decent market share. It decided to use this newfound influence to contribute to the successes of its clients. The scope of work undertaken by the agency at its offices in Sao Paulo and Rio de Janeiro now includes everything from advertising and digital, to direct marketing and design.
Neto and his agency were courted by “Many international groups,” but he chose a partnership with TBWA because he feels it's a group that “Respects entrepreneurship and creativity.” It also didn't hurt that he already had a firm relationship with Lew'Lara\TBWA CEO Luiz Lara, who Neto said had “Always respected independent work." Neto feels that a partnership with “A great network” was necessary in order for Mood to continue “Evolving” at a steady pace. He said that the proposal from TBWA “Recognised the philosophy of an agency based on integrated communications,” and that the top ten ranked global advertising agency saw the brand's “Potential for the future."
“Mood is an impressive agency with an outstanding creative team and expertise in a broad range of disciplines,” James Fenton, CFO of TBWA Americas
This acquisition arrives at one of the best times in the Mood agency's short history. It finished 2013 with a 25% growth rate and won business from American electrical appliances brand Oster, Sandwich makers Tostex and restaurant chain Giraffas in just the first two months of this year. James Fenton, CFO of TBWA Americas, has admired Mood since he was first introduced to the agency several years ago, and is excited to have them onboard the TBWA Network. He says they are an “Impressive agency with an outstanding creative team and expertise in a broad range of disciplines,” and believes that their “Culture of innovation and depth of talent,” will strengthen the business capabilities of TBWA not just in Brazil, but across the entire worldwide network.
Benjamin Hiorns is a freelance copywriter from Kidderminster who has never been to Brazil, but absolutely adores a good Brazil nut (these puns are getting a little out of hand).