Business News
Abril Group takes the stock control of Elemidia
Monday 20. September 2010 - With the business, Abril Group acquires 70% of the company, which is present in 16 Brazilian states, and also in Buenos Aires, Argentina
Abril Group announced today the acquisition of 70% of Elemidia, the Brazilian leader in the out-of-home digital media, with a growing market share in Latin America. The other part (30%) remains with the Forjaz family, founder of the company, in addition to some executives who already work in the business.
By taking the control of Elemidia, Abril Group expands its business within its own core business scope and inaugurates a new stage in the out of home digital content. For Giancarlo Civita, CEO of Abril Group, the goal is to reinforce the business commenced by Forjaz family, adding the permanent efforts of Abril for the spread of information, culture and entertaining. “Investing in Elemidia, we have an important content distribution channel, in complete synergy with guidelines and values of Editora Abril”, he says.
The new phase of Elemidia will have Felipe Forjaz, a member of the founding family, as the CEO. The company will have a board directed by Giancarlo Civita. Ricardo Marques, co-founder of Elemidia, will also join this board of directors.
For Felipe Forjaz, the joint venture is intended to take Elemidia to another level and thus further leverage the business. “Elemidia and its Franchises are immensely benefited from the entrance of Abril Group, which will be responsible for defining the publishing content of the Network. Now we have to appraise and celebrate the coming of a strategic partner, not only an investor. We are even more satisfied with the fact that this is a Brazilian company, largely renowned in the market”, he puts.
Elemidia was created in 2003 and today works in 16 Brazilian states, in addition to the city of Buenos Aires, in Argentina. It has around 5,700 screens installed in more than 1,600 commercial establishments, reaching more than 14 million people per week.