STAGWELL (STGW) ACQUIRES MONTREAL-BASED LUXINE RELATIONS PUBLIQUES

Rhea-AI Summary

Stagwell (NASDAQ: STGW) has acquired Montreal-based Luxine Relations Publiques, solidifying its presence in the Canadian market. Luxine joins Veritas Communications to focus on local markets across Canada, with Luxine's founder appointed as Senior Vice President & Head of LuxineVeritas. The acquisition enhances Stagwell's PR and influencer marketing capabilities in Quebec, catering to the demand for made-in-Quebec strategies.

Positive

• Acquisition of Luxine enhances Stagwell's presence in the Canadian market.

• Luxine's expertise in PR and influencer marketing strengthens Stagwell's capabilities.

• Luxine's established client base and creative talent contribute to Stagwell's growth strategy.

Negative

• None.

The newly augmented Quebec offering will operate as LuxineVeritas

MONTREAL and TORONTO, May 2, 2024 /PRNewswire/ -- Stagwell (NASDAQ: STGW), the challenger network built to transform marketing, has acquired Montreal-based Luxine Relations Publiques, a full-service PR and Influencer Marketing agency.  Luxine joins Veritas Communications (Veritas) as the next step in its ambitious growth strategy to focus on local markets across Canada. Caroline Dubé, Luxine's industry-leading founder, has been appointed Senior Vice President & Head of LuxineVeritas, and joins the Veritas Executive Leadership Team.

Clients and brands have recognized the need for made-in-Quebec strategies for Quebec-based audiences.

Launched 12 years ago, Luxine is a corporate and consumer boutique PR agency in Montreal with A-List clients and the strategic and creative heft of larger, national agencies.  Veritas first opened its Montreal office a decade ago, however the opportunities in Quebec have far surpassed the size of the existing footprint. Clients and brands have recognized the need for made-in-Quebec strategies for Quebec-based audiences and the acquisition of Luxine will bolster the agency's ability to meet that demand.

"PR and influencer marketing capabilities, including our self-service tools like PRophet in the Stagwell Marketing Cloud, have been essential to our success in the Canadian market to date," said Mark Penn, chairman and CEO of Stagwell. "Montreal is an important geography because of its deep technology roots and leading-edge creative talent, so we didn't hesitate when Webster brought Luxine forward as an acquisition." 

"Luxine and Dubé bring Stagwell unparalleled market insight and a singular ability to break through and influence outcomes. Quebec consumers are loyal and vocal and the market demands authentically local leaders that live and breathe Quebec," says Krista Webster, CEO of Veritas, and Meat & Produce. "Dubé will be a key voice at the executive leadership table for the agency overall, not just Quebec."

In addition to Dubé, her talented team of seasoned PR, influencer and social practitioners have joined the existing Veritas team in Montreal and are already making an enormous impact for national clients. The Veritas Montreal team has moved into Luxine's premium office space, and the agency will operate under the banner LuxineVeritas, recognizing Luxine's roots in Quebec and history of excellence in the market.

"I was drawn to Veritas because of Webster's commitment to ensuring Quebec plays an equal voice in how the agency grows and serves clients. Nurturing Quebec-based clients and delivering our personalized approach to media will continue to be a priority as we enter this next chapter," said Dubé.

About Veritas Communications

Veritas Communications is the most creatively awarded Canadian PR agency globally. Veritas Communications and LuxineVeritas walk the line between public relations and marketing to inspire positive word-of-mouth and drive brand preference across sectors and industries. With offices in Toronto and Montreal and satellite partners across the country, Veritas was the first to Canada with integrated social and influencer offerings.  We continue to break new ground by combining advanced technology with the latest in modern marketing, media trends, and sector expertise to help brands reach their goals.

About Stagwell Inc.

Stagwell (NASDAQ: STGW) is the challenger network built to transform marketing. We deliver scaled creative performance for the world's most ambitious brands, connecting culture-moving creativity with leading-edge technology to harmonize the art and science of marketing. Led by entrepreneurs, our 13,000+ specialists in 34+ countries are unified under a single purpose: to drive effectiveness and improve business results for their clients. Join us at www.stagwellglobal.com

Contacts:

Canadian Press:
Nina Kalos
kalos@veritasinc.com

U.S. Press:
Sarah Arvizo
pr@stagwellglobal.com

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SOURCE Stagwell Inc.

FAQ

What is the name of the Montreal-based agency acquired by Stagwell?

Stagwell has acquired Luxine Relations Publiques.

Who has been appointed as Senior Vice President & Head of LuxineVeritas?

Caroline Dubé, Luxine's founder, has been appointed to the role.

What is the stock symbol for Stagwell?

The stock symbol for Stagwell is STGW.

What is the main focus of Stagwell's acquisition strategy in Canada?

Stagwell aims to focus on local markets across Canada.

How long has Luxine been in operation?

Luxine was launched 12 years ago as a boutique PR agency in Montreal.

What was the motivation behind Stagwell's acquisition of Luxine?

Stagwell aimed to bolster its presence in Quebec and cater to the demand for made-in-Quebec strategies.

Who is the CEO of Stagwell?

Mark Penn is the chairman and CEO of Stagwell.

What tools have been essential to Stagwell's success in the Canadian market?

PR and influencer marketing capabilities, including PRophet in the Stagwell Marketing Cloud, have been crucial.

Why is Montreal considered an important geography for Stagwell?

Montreal is significant due to its deep technology roots and leading-edge creative talent.

What new title has been given to Luxine after the acquisition?

Luxine will now operate as LuxineVeritas under the Veritas banner.

What is the focus of Quebec-based audiences according to the PR?

Quebec consumers desire authentically local leaders who understand and resonate with them.