LatinWorks buys Dallas ad agency

LatinWorks Marketing Inc. has acquired Cultura, a Dallas-based Hispanic ad agency with blue chip clients.

Austin-based LatinWorks purchased a 51 percent stake in the seven-year-old agency, according Manny Flores, CEO and founder of LatinWorks.

This is LatinWorks' first acquisition. Financial details of the deal were not disclosed.

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Under the agreement, Cultura's business will be folded into LatinWorks, and Omnicom will continue to have a minority interest in the agency.

Cultura will be bringing a client roster to LatinWorks that includes Kimberly-Clark, Lowe's Inc., Mars and Pepsi.

"The acquisition is a business growth strategy in that the agency has tremendous blue chip clients, and that is exactly the type of clients that LatinWorks loves to represent in the marketplace," Flores says.

LatinWork's clients include Anheuser-Busch, Batanga, Domino's Pizza, ESPN Deportes and Hyundai.

Flores says that LatinWorks has no conflicts of interest with Cultura's client roster.

"Our new clients are the priority. We want to ensure a [quick and] seamless integration," Flores says.

Greg Knipp, Cultura's CEO and general manager, will join LatinWorks as managing director.

Cultura, which has 28 employees, will shutter its Dallas office by June 1.

"We are going to give our best shot to relocate as many employees as possible," Flores says, adding that some employees may choose not to move.

LatinWorks, which has more than 80 employees, is in the process of finishing out 25,000 square feet of office space at 206 East Ninth St., where it recently moved.

LatinWorks generated about $8.5 million in revenue in 2006.