WPP acquires American company PEP

29th Nov 2016 16:39

(ShareCast News) - WPP, the British multinational advertising and public relations company, has acquired Promotion Execution Partners (PEP) as part of its investment strategy into important markets like the US.PEP is a project management and procurement company that oversees shopper marketing promotions for clients in the US.It has managed over $3.5bn in marketing spend across 35,000 campaigns for over 500 brands worldwide including clients like Heinz and Kraft Foods Group.In North America, WPP companies collectively generated revenues of over US$7 billion and employed over 28,000 people.The share price rose 0.12% to 1,708.09p at the close.