Global advertising company, WPP, has acquired 65% of the issued share capital of Sapphire Bright Limited, extending its reach into China.
Sapphire Bright, owns two of the leading promotional and merchandising companies in the People’s Republic of China; Shanghai Always Marketing Services and Shanghai Power Force Marketing Services.
The deal will see clients including Unilever, Visa, Colgate, UT Starcom, McCormick, Pepsi Food, Exxon Mobile and Cadbury brought into the WPP fold.
Meanwhile, WPP also announced the purchase of the outstanding 81% of the issued share capital of MediaCom North Limited, integrating it into its investment management network, MediaCom.
Mediacom North’s clients include Bradford & Bingley, MoneySupermarket, JD Sports, Injury Lawyers 4U, Pontins, Umbro and United Utilities.
Both acquisitions continue WPP’s strategy of developing its networks in fast-growing sectors.
WPP recently announced record results for 2005, enjoying a 36% year on year increase in full-year profit and a rise in revenue of 25% to £5.4 billion, exceeding previous expectations (see WPP Enjoys 36% Rise In Profits For 2005).
Headline profits before tax were up by over 26% for the year, reaching £669 million, while profit before tax hit £592.0 million, up from £434.4 million.
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