By Helena Smolak
JCDecaux’s majority-owned subsidiary JCDecaux Top Media merged with Grupo Publigrafik’s outdoor advertising branch in Central America, a move to enhance their geography and product diversification portfolio.
The French outdoor agency said late Thursday that the new joint-venture with the Guatemalan outdoor agency will be owned 55.6% by JCDecaux, 27% by Grupo Publigrafik’s existing shareholders and 17.4% by Top Partners.
The merger will operate in Guatemala, Panama, Costa Rica, El Salvador, Honduras and Nicaragua, the company said.
Outdoor advertising represents around 6.5% of the region’s advertising market, lower than the market share global average, but continually increasing, it said.
“This merger marks a significant milestone in our development in the region, leveraging the many opportunities in this dynamic advertising market, ” co-chief executive officer of JCDecaux, Jean-Charles Decaux, said.
Write to Helena Smolak at [email protected]
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