WPP Group PLC
14 January 2000
WPP GROUP PLC ('WPP')
ACQUIRES SPANISH ADVERTISING AGENCY, SCPF
WPP announces that it has acquired an initial 30% stake in
Segarra, Cuesta, Puig y Fernandez de Castro S.L. ('SCPF'),
one of Spain's leading creative advertising agencies, and
has entered into options to acquire the remainder of the
equity.
The agency has offices in Barcelona and Madrid and works
with clients such as Adidas, Balay, ONO, IKEA, Pepsi, ING
Direct, Pansfood and Damm. The agency has been ranked by
Campaign magazine as one of the four leading independent
agencies in Europe.
SCPF, which employs 70 people, has revenues of over Pts1000
million in 1999 and net assets of Pts160 million at 31
December 1998.
SCPF will operate autonomously within the WPP Group and
where appropriate will act as a partner to the J Walter
Thompson Group on certain joint business initiatives.
The acquisition of SCPF further implements WPP's objective
of developing world class creative capabilities and follows
similar acquisitions and investments in Asatsu-DK in Japan,
Batey in Asia Pacific, Chime Communications (HHCL) in the
United Kingdom and Singleton in Australia.
Contact:
Feona McEwan, WPP London 44-20 7408 2204
Ignasi Puig, SCPF Barcelona 34-93 414 5522
www.wpp.com
ipuig@scpf.com
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