WPP's GroupM buys New Zealand media agency
Advertising agency WPP announced on Wednesday that its GroupM operating company has bought New Zealand-based media agency Chemistry Media for an undisclosed sum.
Chemistry Media is a media planning and buying agency with operations in Auckland and Wellington. Its key clients include Bank of New Zealand, Nestle and Restaurant Brands.
Since 2010, Chemistry has been affiliated with the MediaCom network, and currently trades under the name MediaCom. Following the acquisition, Chemistry will continue to trade as MediaCom.
WPP said the acquisition marks a further step towards the company’s declared goal of developing its networks in fast-growth markets and sectors.
At 0925 BST, WPP shares were down 0.5% at 1,456p.