Chime Communications plc has acquired a majority stake Brazil’s sports rights consulting firm Golden Goals. The investment is for an estimated £9.5 million and is aimed at taking advantage of Brazil’s hosting of the 2014 World Cup and the 2016 Rio Olympics. Chime Communications is a marketing, PR and advertising group.

In a market update, Chime stated that it expects strong organic growth in operating income this year. The Brazilian move is targeted at tapping into a sponsorship industry in Brazil that is expected to double over the next four years.

Under the stake purchase agreement, Chime Communications plc acquired an initial 60 per cent stake in Golden Goal for £2.4 million. However, Chime retains the option in 2014 and 2017 to increase its stake – with the exact amounts payable dependent on earnings performance – which could value the entire business at £9.5 million.

According to the Guardian, Chime is ramping up its sports marketing business, having last month acquired experiential marketing company Icon, which has worked on projects including the city branding programs at the South Africa World Cup, for £11 million.

In a market update, Chime reiterated that with a foothold in the Brazilian market, the Company intends to export knowledge from around the Chime sports marketing division to Rio de Janeiro in areas of event activation, consultancy and sales. The statement further indicated that Chime is also looking forward to Golden Goal providing a base for the services of its recent acquisition Icon.

The Guardian indicated that in the PR division “most businesses have shown good growth” in the year to 11 May, with “little or no impact” from the continuing political unrest in the Middle East and North Africa. The advertising and marketing services division is on target to show the strongest organic growth of any Chime business in the first half of the year, said the report.

The Chime Group helps clients create, manage, monitor and market their businesses, brands and reputation both in the UK and internationally.

Chime is the holding company for the international public relations group, Bell Pottinger; one of the fastest growing advertising and marketing services groups, which includes VCCP and Teamspirit; a global sports marketing group, which includes Fast Track and Essentially; and a market leading research and engagement group, which includes Opinion Leader Research and Facts International.

Chime is made up of four divisions, 50 agencies and over 1,200 people with offices in 17 countries.