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.
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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.
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