WPP's global research agency Millward Brown has acquired Chilean
consumer insights company Cadem Advertising.
Millward Brown is a global company focused on brands, media
and communications. It is part of Kantar Group, the insights
arm of WPP plc.
in 1997, Cadem has operated as a licensee of Millward Brown
for many years providing brand tracking, quantitative and
qualitative research services.
to the official communiqué, Cadem employs 87 people
and key clients include Coca-Cola, Falabella Retail, Nestle,
Telefonica and Unilever. Its unaudited revenues for the year
ended 31 December 2011 were approximately $6.55 million with
gross assets of approximately $2.66 million.
acquisition continues WPP's strategy of investing in fast
growing markets and sectors and its commitment to developing
its strategic networks throughout Latin America. The Group
collectively employs (including associates) 15,000 people
with revenues of $1.5 billion in Latin America.
acquisition, Cadem Advertising will become Millward Brown
Chile, and, consequently, Millward Brown will consolidate
its operations in Latin America, by being present in the entire
region, with offices in Brazil, Mexico, Argentina, Colombia,
Peru, Chile and Central America.
Brown Latin America CEO Fabian Hernandez said, "This
acquisition is helping us to leverage our business as the
most important market research company in the region. Through
our presence and service throughout Latin America and by offering
excellence in our methodologies and analysis, we are consolidating
ourselves as strategic partners for our clients in their market
research and brand, media and communication consulting projects
in Latin America."