Austin-based Hispanic Shop LatinWorks to Acquire Cultura

Omnicom-Backed Shop to Maintain Minority-Ownership Status
(AdAge.com) — By Laurel Wentz, April 21, 2008.
Omnicom Group’s LatinWorks will acquire another Omnicom-backed Hispanic shop, Cultura, whose founder, Juan Faura, is returning to consulting. An announcement is expected today. With this deal, brokered by Omnicom’s DAS division, all four U.S. Hispanic agencies within Omnicom have undergone major restructuring in less than a year.
Sergio Alcocer, LatinWorks’ president-chief creative officer, said Dallas-based Cultura’s office will be closed and the agency’s clients and 10 or 15 key staffers will be transferred to LatinWorks, based in Austin, Texas.
Link to the full story here.

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