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Grey Group acquires majority stake in Famous holding company

11.07.2016
Grey Group acquires majority stake in Famous holding company

WPP’s Grey Group has announced that it has acquired a majority stake in the holding company of leading Belgian creative agency, Famous.

The acquisition will see Famous rebrand as FamousGrey, with the aim of strengthening Grey’s position as a provider of creative full-service marketing solutions in Belgium.

It comes as part of WPP’s drive to put greater emphasis on growth in Western Continental Europe following the UK’s decision to Brexit.

Full service agency Famous creates in French, Flemish and English with revenues at the end of 2015 at approximately €8.1m ($8.94m) and gross assets at €7.5m ($8.27m).

WPP Group companies in Belgium have collectively generated over $100m in revenues and employed around 600 people, with those numbers increasing to $400m and 2000 respectively across all of Benelux.


Source:
http://mandmglobal.com/grey-group-acquires-majority-stake-in-famous-holding-company/