MADRID—Leading Spanish public relations firm Llorente & Cuence has clinched a deal to buy and incorporate the Portuguese consultancy Imago. The move will consolidate L&C’s strength in Spanish and Portuguese communication and further expand its offer of communication services between the Iberian Peninsula and Latin America, reinforcing the Portugal-Brazil link.
Under this agreement, the Spanish consultancy subscribes 25 percent of the capital of Imago, which will change its name to Imago-Llorente & Cuenca. Madalena Martins and Carlos Matos, founders of the Portuguese firm, control the rest of the capital and become partners of Llorente & Cuenca, which now has 13 partners.
Imago is one of the leading strategic communication consultancies on the Portuguese market and was elected Agency of the Year 2010 in Portugal by the journal Marketeer. With a forecast revenue of €1.5 million in fees in 2011, its clients include major companies such as Bial, Portucel, Banco Best, Tranquilidad, BPI, Confederación de Turismo Portugués, Turismo en el Algarve, Unilever Jerónimo Martins, Sonae Sierra, Zagope and Opway.