Media giant WPP, run by Si Martin Sorrell, has bought Chilean consumer insight group Cadem Advertising in an effort to expand its footprint in fast-growing markets.
Cadem, acquired by WPP's brand, media and communications research subsidiary Millward Brown, was founded in 1997 and has served clients including Coca-Cola, Falabella Retail, Nestle, Telefonica and Unilever.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"This acquisition continues WPP's strategy of investing in fast growing markets and sectors and its commitment to developing its strategic networks throughout Latin America," WPP said.
Cadem generated 3.2bn Chilean pesos (around £4.2m) in revenue in 2011. WPP's annual revenues in Latin America total around $1.5bn.
By 15:15 on Friday, WPP was trading 0.18% higher at 821p.
BC
-
Equity release jumps 4% amid growing inheritance tax concerns and sticky inflationThe amount of money withdrawn by equity release has increased, but the total number of plans has fallen
-
Nest Pensions abandoned by 10 million workers – why are savers ditching the UK’s biggest workplace pension?Savers are halting contributions and leaving millions of small pots behind them, Freedom of Information (FOI) data provided exclusively to MoneyWeek shows. We look at why and what it means.
