Chime Completes 60pc Acquistion of Brazilian Marketing Firm
By Community | May 12, 2011
Holding company for a number of public relations, advertising, digital, marketing and design companies, Chime Communications has announced its acquisition of 60 per cent of Brazilian sports marketing firm Golden Goal Sports Venues in order to expand its presence in the South American market.
Golden Goal’s main area of business is in sponsorship consulting and rights selling for major organisations and sporting federations having been founded in 2005. Major clients of the sports business company include Serie A giants AC Milan, Brasileirão clubs Flamengo and Botafogo and major corporations Petrobras and Banco do Brasil.
Chime Communications’ acquisition of Golden Goal Sports Venues is reportedly worth US$3.9m in cash and sees its co-founders Cadu Ferreira and Mauro Correa each retain a 20 per cent stake in the company.
Speaking at Chime Communications’ annual general meeting the group’s chairman, Lord Bell, said: “The group’s track record of growth has continued into the first four months of 2011, with good organic growth and growth from acquisitions.
“We are looking forward to Golden Goal providing a base for the services of our recent acquisition Icon which played a pivotal role in the city branding programmes at the last Fifa World Cup in South Africa.”
Jim Glover, chief executive of the sports marketing division of Chime Communications, added: “Sports marketing is growing rapidly in Brazil, and with the Fifa World Cup in 2014 and the Olympic Games in 2016 both taking place there, we are in a great position to capitalise on the opportunities around these major events.”