Chemistry is acquiring a majority stake in cross-cultural marketing agency Pinta to help bolster the full service agency's offerings in content creation, influencer marketing and below-the-line communications. Financial terms weren’t disclosed.
Pinta was founded in 2014 by President-CEO Mike Valdes-Fauli. The deal will enable both client rosters to access a full-service approach.
Under the agreement, Pinta will continue to operate under its own name; there are no leadership changes at either agency. The combined entity’s client roster includes Carnival Cruise Line, H&R Block, Heineken, NFL and T-Mobile.
"We collectively look forward to making strategic introductions to each other’s’ clients where it makes sense for their business," says Valdes-Fauli. "We’re hopeful there is some low-hanging fruit that can make this a no-brainer quickly."
This partnership will expand both agency's footprints to include offices in Atlanta, Miami and Pittsburgh, in addition to satellite operations in New York, San Francisco and Nashville. "It seems a unique cocktail to address the increasingly diverse country in which we live," says Valdes-Fauli.
Each agency CEO offers their specific reasons for entering into this partnership.
After evaluating "a dozen multicultural firms," Chemistry's CEO Ned Show felt Pinta stood apart as the "premier independent agency in the space." Valdes-Fauli is an "incredibly talented marketer who would make Chemistry a stronger and more diverse partner for our clients." The goal, he added, is to "become the best independent agency in the country.”
Pinta, for its part, felt Chemistry was the "perfect, synergistic fit," explains Valdes-Fauli. "Our entire business is being disrupted by major market forces, such as tech giants getting into our space, small agencies sprouting up and global holding companies consolidating. We prefer to be proactive and move from a position of strength," he says. "Chemistry brings a deep bench of creative talent and digital chops that will complement well with our Hispanic market expertise."
This marks the second acquisition for Chemistry. In 2016, it acquired creative shop Breensmith.