JCDecaux Top Media Publigrafik and IMC merge their activities in Central America

JCDecaux SE (Euronext Paris: DEC), the number one outdoor advertising company worldwide, announces that its majority-owned subsidiary JCDecaux Top Media SA has acquired from its founders 70% of IMC, a leading OOH company in Central America and the number one outdoor advertising company in Costa Rica.

As part of the transaction, the remaining IMC’s shareholders contributed their 30% shares in IMC in exchange for a 9% stake in a newly-formed joint-venture regrouping all JCDecaux activities in Central America which include 6 countries (Guatemala, Panama, Costa Rica, El Salvador, Honduras and Nicaragua). This new joint-venture will be owned by JCDecaux SE (51%), Publigrafik, Top Partners and former IMC’s shareholders.

Created in 2004 in Costa Rica, IMC is one of the leading OOH companies in Central America, with a number one position in Costa Rica where it has a strong presence across all 6 regions of the country and where its national network comprises around 4,000 analogue and digital advertising panels. The group is also active in Guatemala, El Salvador, Honduras and Nicaragua. The company currently offers sites across 4 environments: billboards, shopping malls, buses, as well as street furniture.

With a population of 51.7 million inhabitants in 2023 and advertising investments estimated to be over US$2.2 billion, Central America has proven to be a dynamic market that is outperforming the American continent in terms of growth rate, thanks to its unique geographical position, including the Panama Canal with high mobility indices. Following the merger between JCDecaux Top Media and Grupo Publigrafik in November 2023, this acquisition of IMC will be another growth driver for outdoor advertising. Representing around 7% of the local advertising market (source: Kantar Ibope and Integrametrics), lower than the global average, OOH is continually increasing in the region, thanks to its digital transformation and its sustainable commitments, bringing citizens and consumers new added-value solutions.

The combined expertise of JCDecaux and IMC will open-up new opportunities for advertisers within a highly fragmented advertising market. JCDecaux and IMC will cross their expertise including in DOOH (Digital Out-of-Home) to offer data-led media solutions to advertisers, allowing relevant activations across the entire marketing funnel including high-performance measurement indicators.

Marco A Robert, Managing Partner of IMC, said: “We are thrilled to join forces with JCDecaux, the number one outdoor advertising company worldwide, IMC began more than 20 years ago as a local company in Costa Rica, and through dedication and a deep understanding of the market, we have successfully expanded across the Central American region. This partnership with JCDecaux is a natural next step in our journey, allowing us to continue our growth while enhancing our offerings with cutting-edge digital and data-driven solutions. Our shared values of innovation, sustainability, and delivering measurable impact will guide our efforts as we bring new opportunities to advertisers and value to the communities we serve. Together, we are confident in shaping the future of outdoor advertising in Central America.”

Jean-Charles Decaux, Chairman of the Executive Board and Co-CEO of JCDecaux, said: “We are delighted to acquire and merge IMC and reinforce our position in Central America, especially in Costa Rica where we will build on the high performance generated by the company. We are also very pleased to welcome IMC shareholders who share the same values as JCDecaux and have a solid track record in the Out-of-Home business. This new alliance of family owned-companies is based on a shared ambition to bring the best solutions to all their stakeholders – cities, transport companies, airports, retail media, advertisers and their communication agencies. Following the merger with Grupo Publigrafik, this new acquisition/merger is another significant milestone in our development in the region.”