Lamar Advertising, one of the largest outdoor advertising companies with just under 350,000 displays in both the USA and Canada, have sold all their Puerto Rican assets to bMedia Group as of Monday, April 16th. The local Puerto Rican owned company will now increase their number of billboards by 180 this week, while Lamar Advertising formally exits the island market.
bMedia is owned by two young, local entrepreneurs, Juanchi Casillas and Héctor Horta. The company has always focused on strong visual impact locations for their billboards across Puerto Rico and this acquisition continues that mission. bMedia Group is the leading local outdoor media company on the island.
The founding partners of this exciting new step forward had this to say about the acquisition:
“Thanks to the support of all of our clients and our excellent work team, we have evolved and kept at the forefront of market trends and needs through acquisitions like this one, which have proven to be extremely positive for the industry and the economy of our [island,]” said Héctor Horta, founding partner of bMedia.
“As a young entrepreneur, I’m proud to be able to materialize this great strategic acquisition as it fulfills our objective of continuing to contribute to the economic development of the [island] and in turn, allows us to continue solidifying the outdoor advertising industry,” said Juanchi Casillas, also a founding partner of bMedia.
“Lamar’s media assets further complement our bMedia offering, hence providing our clients with an outdoor media network that will allow them to communicate with their consumers more effectively,” Casillas said.