CONSOLIDATION

Aspen Marketing Group, Los Angeles, has purchased its first ethnic-marketing asset, Hispanic marketer Luna Bacardi Group of Santa Monica CA.

The privately held Luna Bacardi, which ranked number 79 on the 1999 promo 100 with net revenue of $5.9 million, will be integrated into Aspen's promotions division. Aspen ranked fourth in the latest promo 100 with revenue of $46.7 million.

"The acquisition of the Luna Bacardi Group is a real positive for Aspen. With its award-winning integrated promotion-marketing experience and its strong ties to the Hispanic market, [it] will be an effective partner in Aspen's overall diversification and growth," says Aspen Promotion president Joe Schmidt.

Under the direction of ceo Gregorio Bennett and cfo/general manager Julie Sylvestre, Luna Bacardi has evolved into a national full-service firm that has garnered numerous awards. The agency boasts strategic alliances with research and p.r. firms specializing in the Hispanic market and a client list that includes Sony, Columbia TriStar, Keebler, Land O'Lakes, Pillsbury, and Alpine Lace.

"Luna Bacardi is poised for tremendous growth and success," says Bennett.