Global communications firm WPP has acquired a majority stake in South African ZAR68 million (US$6.5 million) marketing agency Quirk.
WPP said the investment aligned well with its strategy of developing its services in fast growing markets and sectors while strengthening its capabilities in digital media.
“WPP has been watching Quirk for a while and we feel strongly that now is the right time for us to join forces”, said WPP chief executive officer (CEO), Sir Martin Sorrell. “As a group, Quirk has demonstrated consistent growth and creativity way above the market in both South Africa and the UK, and we look forward to helping them bring their unique brand of insight and innovation to our global client base.”
He said the company had agreed “an incredible deal” which he believed would take its business forward.
“Quirk is not a normal agency, and the team at WPP realise this. They have embraced our rather unusual culture and progressive approach to marketing, and together we have designed a partnership which will allow us to retain much of our independence in areas which matter most to us, whilst still allowing us to benefit from the advantages of being part of a global advertising network,” said Quirk chief executive officer (CEO) Rob Stokes.
Quirk currently has five agencies in Africa and the United Kingdom (UK), with clients including Distell, Capitec, Woolworths, Hollard, Makro, Unilever, Caltex and Tyco.
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