WPP Agrees to Acquire Majority Stake in Bruketa&Zinic OM
Adriatic's Leading Creative Agency Will Become Part of Grey GroupNew Name Will Be Bruketa&Zinic&Grey
March 16, 2017 --
NEW YORK, March 16, 2017 /PRNewswire/ -- WPP, the world's largest communications services group, announced that it has agreed to acquire a majority stake in Bruketa&Zinic OM, one of the Adriatic region's most highly-awarded creative agencies.
Following the acquisition, WPP's Grey Zagreb will merge into Bruketa&Zinic to create Bruketa&Zinic&Grey. Other Grey agencies in the region will also be rebranded.
The merger provides Bruketa&Zinic access to opportunities with Grey clients throughout Europe and the world. At the same time, it allows WPP and Grey to expand its capabilities and consolidate its position in the region.
James R. Heekin III, Chairman and CEO of Grey Group, said, "We are delighted to welcome Bruketa&Zinic to Grey. This deal represents another step forward in expanding Grey Europe's capabilities and critical mass in the important Adriatic region."
Alain Groenendaal, President and CEO of Grey Europe, said, "We have been monitoring Bruketa&Zinic's development ever since Advertising Age recognized them as the International Small Agency of the Year. We're very excited about their potential and the opportunities we will have together."
Davor Bruketa, Partner in Bruketa&Zinic OM, said "We have discussed ways to create new value together with Grey for quite awhile. Of course, we are interested in the tools and insights of Grey's global network, but more than that, we believe in the potential of formal and informal networking across the globe. It's a great opportunity for us and our clients. From our founding, our growth has resulted from partnering with innovative companies and talented and ambitious individuals. Joining the Grey network gives us the chance to expand our boundaries again."
Nikola Zinic, Partner in Bruketa&Zinic OM, said, "Not long ago we placed digital at the heart of our integrated communications process and that has resulted in tremendous growth for us, winning accounts for Addiko Bank, Coca-Cola and VIPnet last year alone. We see that joining Grey's global network will be equally impactful and transformative in our growth and success."
Grey is the advertising network of Grey Group, which ranks among the largest global communications companies. Its parent company is WPP (NASDAQ: WPPGY). Under the banner of "Grey Famously Effective Since 1917," the agency serves a blue-chip roster of many of the world's best known companies: Procter & Gamble, GlaxoSmithKline, Kellogg's, Pfizer, Canon, Marriott Hotels and Resorts, Nestle and more. (www.grey.com)
About Bruketa&Zinic OM
Bruketa&Zinic OM is the best international small advertising agency according to Advertising Age Magazine (Portland, 2013); the second most effective independent agency according to the Global Effie Index (Cannes, 2012); one of the world's 17 leading independent agencies according to Campaign Magazine (London, 2014); and among the world's 200 best packaging designers according to Lurzer's Archive (Vienna, 2015).
Founded in 1995, B&Z's revenues for the year ended 31 December 2016 were approximately HRK 33 million. The company employs approximately 60 people and serves such premier clients as Heineken, VIPnet, Coca-Cola, Croatia Insurance, Addiko Bank and Adris Group. www.bruketa-zinic.com
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