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WPP’s Grey acquires majority stake in Ecuador agency Maruri

08.08.2016
WPP’s Grey acquires majority stake in Ecuador agency Maruri

WPP’s global marketing agency Grey has acquired a majority stake in Ecuadorian full-service communications firm Maruri Publicidad SA.

 

Maruri is a market leader in Ecuador, with unaudited gross revenues of almost $10m in December 2015 and gross assets of $4m.

Based in Guayaquil with an office in Quito, it works with clients including DIRECTV and SABMiller.

The acquisition comes as part of WPP’s strategy to invest in faster-growing markets such as Latin America, with its companies generating revenues of over $1.5bn collectively in the LatAm region.

Within the last month, Grey Group has acquired majority stakes in Easycom Group in China and the holding company of Belgian creative agency Famous.


Source:
http://mandmglobal.com/wpps-grey-acquires-majority-stake-in-ecuador-agency-maruri/