WPP Unit GroupM Buys Chemistry Media In New Zealand - Quick Facts

(RTTNews) - UK-based advertising giant WPP Group plc (WPP.L, WPPGY) announced Wednesday its wholly owned operating company GroupM has acquired Chemistry Media Ltd., a media planning and buying agency based in New Zealand.

Chemistry Media has operations in Auckland and Wellington. Key clients include Bank of New Zealand, Fonterra, Nestlé, and Restaurant Brands.

Since 2010, Chemistry has been affiliated with the MediaCom network, and currently trades under the name MediaCom. Following the acquisition, Chemistry will continue to trade as MediaCom.

WPP said the latest acquisition marks a further step towards its declared goal of developing its networks in fast-growth markets and sectors. In the Australia-New Zealand region, WPP companies generated revenues of $1.2 billion in 2014, and employ 4,000 people.

In the Asia Pacific region, WPP companies generate revenues of $5 billion and employ around 50,000 people.