Havas has acquired PR and experiential marketing shop Formula, the agencies confirmed Monday. Terms were not disclosed.
Formula has 100 staff members across offices in New York, Los Angeles, and San Diego, the new entity. The acquired firm is being rebranded Havas Formula, with practice areas in strategic communications, public relations, experiential, Latino, and experiential marketing.
Havas Formula will work with other Havas agencies including Havas Impact, Havas Edge, Havas Luxe, Havas PR, and Havas Latino Group — to boost the Group’s offering to North American clients.
Through the acquisition, Havas is also gaining Formula’s brand activation arm, Formula Street, and Hispanic PR division, FORMULATIN.
Yannick Bolloré, Chairman and CEO of Havas, commented: “Formula is a best-in-class agency with an impressive client roster, particularly within the consumer and lifestyle category. With their track record of implementing impactful PR, social, and experiential programs, Formula will help expand our offering.”
Formula, founded 22 years ago, has a client roster that includes Phillips 66, Shure, Heineken, Dunkin’ Donuts, and Sound United.
Michael A. Olguin, Founder and President of Formula, said of the acquisition: “Having access to Havas’s powerful network of global services and resources, paired with the ability to leverage and learn from the company’s senior team, is going to be a game changer for us.”