WPP back on acquisition trail

27th Jan 2011 07:52

Advertising agency WPP's focus on South Africa in 2011 continued with news that the company is to buy a majority stake in Ogilvy South Africa, part of the Ogilvy Worldwide network.On Wednesday, the company purchased a 50% stake in Mindshare South Africa from Ogilvy South Africa.Ogilvy South Africa provides a diverse range of communications services to clients such as BP, KFC and SABMiller.Its audited consolidated revenues for the year ended 31 December 2009 were 411.7m rand, with gross assets at the same date of 422m rand.The company employs more than 700 people and has offices in Johannesburg, Cape Town and Durban.