WPP whips out cheque-book again
Another day, another acquisition for WPP, the insatiable advertising conglomerate. This time it has grabbed a minority stake in Barrows, an agency focused on the fast moving capital goods sector.
Another day, another acquisition for WPP, the insatiable advertising conglomerate. This time it has grabbed a minority stake in Barrows, an agency focused on the fast moving capital goods sector.
WPP is taking a 35% holding in Barrows, an agency which provides a diverse range of services, including retail strategy, shopper insight, design, manufacturing capabilities and innovative products.
Barrows employs more than 400 people worldwide, and has offices in Brazil, South Africa and the UK.
Subscribe to 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
WPP did not reveal how much it is paying for the stake but it did disclose that the unaudited consolidated gross assets of the Barrows companies in which WPP is investing, as at 31st December 2011, were around $18.3m. Barrows' total unaudited revenues for 2011 were roughly $62m.
"This investment continues WPP's strategy of investing in fast growing markets and sectors and its commitment to developing its businesses and maintaining its premier position throughout the fast-growing BRIC [Brazil, Russia, India, China] markets," WPP said.
JH
-
FTSE 100 hits record highs – why is it rising and will we see more gains?
Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
By Marc Shoffman Published
-
How to invest in copper
It may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
By Dominic Frisby Published