WPP Group PLC
05 November 2004
For Immediate Release 5 November 2004
WPP GROUP PLC ("WPP")
Kantar to acquire Cannondale Associates, Inc. in the US
WPP announces that its wholly-owned operating company, The Kantar Group
("Kantar"), the parent company of WPP's Insight, Information and Consultancy
businesses, has acquired Cannondale Associates, Inc. ("Cannondale"), a leading
US sales and marketing consultancy and software solutions firm. Cannondale
provides strategic consulting services in category management, trade promotion,
channel development and frequent shopper data analysis. The issue of
concentrating distribution at retail is becoming more and more significant and
WPP companies such as Cannondale Associates, Glendinning Associates and
Management Ventures, Inc., amongst others, present a very powerful combined
offer in this area.
Founded in 1992, Cannondale has offices in Wilton, Connecticut and Evanston,
Illinois. Cannondale's clients are primarily blue-chip grocery and consumer
packaged- goods manufacturers and retailers, although the firm is increasingly
servicing financial services institutions, pharmaceutical firms and soft goods
manufacturers.
Cannondale had unaudited revenues of US$8.6 million for the year ended 31
December 2003 and net assets of US$1.7 million as of this date.
This investment continues WPP's strategy of developing its services in more
measurable areas for its clients such as information, insight and consultancy.
For further information please contact:
Feona McEwan, WPP 44-20 7408 2204
www.wpp.com
www.kantar.com
This information is provided by RNS
The company news service from the London Stock Exchange
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