WPP Group PLC
14 June 2006
FOR IMMEDIATE RELEASE 14 June 2006
WPP GROUP PLC ("WPP")
Millward Brown acquires ACSR in China
WPP announces that its wholly-owned operating company Millward Brown, the
information, insight and consultancy network, has acquired the business of All
China Strategic Research Co., Ltd ("ACSR"), a leading independent market
research agency in China. On completion, ACSR's business will be merged with
Millward Brown's current Chinese operations. WPP will hold a majority stake of
the combined company with an option to acquire the remaining shares.
Founded in 1997 and based in Beijing, with branches in Shanghai and Guangzhou,
ACSR employs 147 people. ACSR had unaudited revenues of CNY50.34 million for the
year ended 31 December 2005, with net assets as at the same date of CNY 24.9
million. Clients include P&G, Unilever, Shengshi Great Wall International Ads,
Tianjin Wanke Property, Xi'an Janssen, Diantong (Shanghai) Ads, Kimberley
(China) Investment, LG and Wal-Mart China.
This acquisition continues WPP's strategy of developing its networks in fast
growing markets and sectors. Greater China is one of the fastest-growing markets
for WPP, with revenues approaching $500 million including associates - almost
one-third of the company's total Asia Pacific business. WPP earns the highest
amount of revenues from this region amongst its competitors. Consequently, the
Group, which employs 6,000 professionals in Greater China, has a very strong
leadership position in the region - as it does in Asia overall - across all
marketing disciplines.
WPP has been building its business in Greater China for 20 years. The Group
currently has 32 operating companies, including joint ventures, which operate in
the region through 130 offices.
Contact:
Feona McEwan, WPP 44-20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
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