WPP snaps up German marketing firm

19th Apr 2011 08:53

Advertising giant WPP has expanded in one of its largest markets, after agreeing to acquire German marketing and communication services firm Commarco for an undisclosed sum.The Hamburg-based group - which made revenues of €132.9m last year - is the parent company of more than 25 agency brands, including the Scholz & Friends marketing services network. "Germany is WPP's third largest market after the US and UK and is showing signs of strength following the recession, as Central and Eastern Europe grow faster than Western Europe, particularly in Germany, Poland and Russia," the statement said.Commarco's co-chief executive officer Frank-Michael Schmidt said on its website: "entering the WPP world opens the doors to the next level in our company's development. Combining with WPP, the global number one, will provide a whole new universe of international possibilities, both for our clients and for our employees."Commarco employs more than 1,200 people throughout Germany, Switzerland and other international markets. Notable clients include American Express, Commerzbank and Credit Suisse.---bc