WPP takes majority stake in Croatian creative agency
Media giant WPP’s wholly-owned operating company Grey has agreed to take a majority stake in Croatian creative agency Bruketa & Zinic OM Doo.
Founded in 1995 and based in Zagreb, Bruketa is a full-service creative agency that employs around 60 people.
Following the acquisition, it will merge with Grey Zagreb to create Bruketa & Zinic & Grey. WPP said the merger will strengthen its offer in the Adriatic region and allow Bruketa & Zinic to tap into business opportunities throughout Grey's EMEA region.
For the year ended 31 December 2015, the agency had revenue of around HRK20.9m with gross assets of approximately HRK12.9m.
In Central and Eastern Europe, WPP companies including associates generate revenues of more than $500m and employ more than 6,000 people.
At 1512 GMT, the WPP shares were flat at 1,700p.