WPP buys German marketing firm
Ever-growing advertising company WPP said it had taken full control of Frey G2, a shopper marketing company in Germany.
Ever-growing advertising company WPP said it had taken full control of Frey G2, a shopper marketing company in Germany.
WPP's subsidiary Grey Group previously had a 50% stake in Frey but has now bought the other half of the company for an unspecified amount.
Following the deal, the company will be merged into WPP's Grey Shopper, which already employs around 40 people and provides clients such as Procter & Gamble, Coca-Cola and Pfizer with retail marketing advice.
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Frey G2's consolidated unaudited revenues at the end of 2011 were €2.9m, with gross assets of € 0.7m.
WPP said the deal continued its strategy of increasing shopper and digital solutions and focusing on important markets, such as Germany, which is currently its fourth largest market.
Collectively, WPP companies in Germany employ around 7,000 people with revenues of approximately $1.3bn.
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