Grey Group Unveils Maruri Takeover in Ecuador

Grey Alain Groenendaal

The full-service agency has had a partnership with global marketing communications network, Grey Group, since the early 1990s.

Grey Group has acquired a majority stake in Maruri, a full-service communications firm in Ecuador founded in 1191 by father-and-son team, Jimmy and Eduardo Maruri.  The agency has had a partnership with the global marketing communications network since the early 1990s.

The company employs 130 people at its main office in Guayaquil and one in Quito. Its revenues were almost $10 million in 2015, garnered from services such as advertising, media buying, promotional and activation marketing, sponsorships, digital communications, PR, and production services.

The brand’s blue-chip clients include DIRECTV, SABMiller, and La Fabril, among others. Maruri’s management team led by CEO and Chief Operating Officer, Eduardo Maruri, and General Manager, Fausto Maruri, will continue to oversee the company under the banner of Maruri Grey.

Maruri is especially recognised for its creative capabilities and was named Agency of the Year by the local industry trade association 12 times and internationally, won 30 Lions at the Cannes Lions International Festival of Creativity over the last five years.  It has also snagged 15 Latin American Effie awards.

“Bringing Maruri Grey officially into our fold is very gratifying.  This acquisition also reinforces our belief in the long-term growth of the Ecuadorian market, as part of the group’s commitment to being a leading network in Latin America, said Alain Groenendaal (pictured), President and CEO of Grey Latin America.