WPP acquires CB'aWPP Group plc (“WPP”) announces that it has acquired 77% of the issued capital of CB Associes S.A. (“CB’a”), a branding agency in France specialising in package and retail design, and entered into put and call options in respect of the remaining 23%.
Founded in 1982 and with offices in Paris and Stuttgart, CB’a’s principal activities are package and retail design, including interactive, in-store and point-of-sale design. CB’a was ranked second largest company in its sector in France in 1999. The company services numerous international and national clients including Nestlé, Cora and Unilever.
The agency, which employs 185 people, had revenues of FFR 63.5 million and net assets of FFR 11.3 million for the year ended 31 December 1999. CB’a will work closely with Ogilvy & Mather Worldwide and with WPP’s branding and identity sector.
The acquisition of CB’a further strengthens WPP’s capabilities in Continental Europe and the important French market and continues its strategy of expanding its networks in fast-growing sectors and important markets.