Advertising, Latvia, Markets and Companies

The price of the deal has not been disclosed.

The McCann representatives indicated that the company has acquired Stendzenieks’ advertising agency Mooz! to strengthen its position in the Latvian market. The acquisition is expected not only strengthen McCann Group’s creative work but also to expand to foreign markets more successfully.

"The excellence of the Eriks-led team has always been creativity which we have been seeing for years in their innumerable campaigns. The new reinforcement will help up and our clients conquer the European market,” said McCann senior partner and brand strategist Kristaps Silins.

Mooz! head Vita Gaisma has been appointed the new CEO of McCann Riga and McCann Riga partner and creative director Valters Jonats will continue to head the company’s creative team.

According to the company’s information, McCann Riga closed 2017 with EUR 1.54 mln in turnover, up 9% against a year before, and a profit of EUR 101,388.

McCann Riga advertising agency belongs to the Latvian companies of McCann communications group providing advice on branding strategy, design, PR and media planning solutions.

McCann Riga belongs to McCann WorldGroup, in which 60% belong to Silins and 40% to Ainars Scipcinskis. McCann WorldGroup owns eight companies: McCann Riga (100%), BrandBox (49.8%), White Label (90%), Division (100%), Lowe Age (100%), M Live (100%) and Inspired (3.02%).