Ogilvy & Mather increase ownership in Shanghai Advertising
Ogilvy & Mather (O&M) Marketing Communications has agreed to acquire full ownership of two existing Chinese joint ventures from Shanghai Advertising. The acquisition will see O&M take up the remaining 25% and 15% stakes in Shanghai Ogilvy & Mather Advertising and Shanghai Ogilvy & Mather Marketing Communications Consulting respectively.
Shanghai Ogilvy & Mather Advertising was founded in 1991 and employs around 520 people in China. The agency specialises in advertising strategy, design and production with key clients including YUM! Brands, Unilever, Philips, Nestlé and Coca-Cola. Shanghai Ogilvy & Mather Advertising’s gross revenues for the year ending 2015 were RMB 633.2 million with gross assets of RMB 466.3 million, as of the same period.
Shanghai Ogilvy & Mather Marketing Communications Consulting was founded in 1997. The agency employs 450 people and revenues for the year ending 2015 were RMB 575.8 million with gross assets of RMB 416.9 million, as of the same period. Clients include Nestlé, IHG, UPS and Lenovo.
The acquisition demonstrates the holding company, WPP’s strategy and commitment to investing in important markets and sectors. Collectively, WPP companies (including associates) in Greater China generate revenues of $1.6bn and employ 14,000 people.
