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Thursday, 4 August 2011, 15:00 HKT/SGT

Source: Grey Group Asia Pacific
Grey Group Agrees to Acquire Majority Stake in Campaigns & Grey in the Philippines
Additional investment builds on Grey Group's growth strategy and propels Campaigns & Grey forward in fast-growing Philippine market

SINGAPORE, Aug 4, 2011 - (ACN Newswire) - Grey, the global advertising network of Grey Group, today announced that it has agreed to a majority-stake acquisition in Campaigns & Grey, one of the Philippines' leading communications companies. Grey has held a minority stake in Campaigns & Grey since 1994 and will, following completion, hold a majority of the shares.

Founded in 1986 and based in Manila, Campaigns & Grey is a full service communications agency with capabilities including strategic planning, advertising, digital marketing, activation, public relations and advocacy communications. Along with Campaigns & Grey, the agency has five other divisions under its umbrella, namely Campaigns PR Inc (CAPRI), Campaigns Social Response, Camp Apple, Bacon and Neuron, to provide a total integrated communications offering to its clients. Campaigns & Grey also works closely with affiliate agencies Campaigns Cebu and Campaigns Davao.

Campaigns & Grey currently has 93 employees, and key clients include Procter & Gamble, GlaxoSmithKline, Sara Lee, AXA, Wyeth Philippines, Boehringer Ingelheim, Electrolux, Sun Cellular, JG Summit Group, SM Investments Corporation, Rockwell Land, Ginebra San Miguel, Inc. and Universal Robina Corp. The agency has established an outstanding track record with its dynamic client relationships, as well as multiple international, regional and local creative and effectiveness awards. The agency also leverages its 'Famously Effective' work in helping to create a better world through various advocacies and socio-civic projects.

Jim Heekin, Chairman & CEO, Grey Group, said, "We value our long and successful partnership with Campaigns & Grey and its chairperson, Yoly Ong, a pioneering leader in the Philippines' advertising industry. Campaigns & Grey today is an innovative, future-facing total communications agency, with a roster of leading global and local clients, positioned for dynamic growth in the years ahead."

Nirvik Singh, Chairman & CEO, Grey Group Asia Pacific, said, "We stay committed to further developing our network in the Asia Pacific region, particular in high-potential markets and sectors. The Philippines is an important strategic market for Grey Group and one which exhibits compelling growth opportunities. We have successfully collaborated with Yoly and her highly talented team at Campaigns & Grey over the years, and I am confident that our partnership will continue to strengthen as we embark on our next phase of growth in the Philippines."

Yoly Ong, Group Chairperson, Campaigns & Grey, said, "This partnership comes at exactly the right time in Campaigns & Grey's 25th year. As the industry raises the bar and the competition grows even fiercer, Grey and WPP provide enormous resources to keep us in A-one shape. We are happy to be part of Grey Group and hope to do our share of 'Famously Effective' work."

The additional investment in Campaigns & Grey will propel Grey Group forward in the fast-growing Philippine market. The move represents the latest initiative in Grey Group's growth strategy, as the agency continues to expand its network, strengthen its presence and elevate its position in Asia Pacific. In December 2010, Grey undertook a majority-stake acquisition in Yolk, one of Asia's fastest-growing interactive and digital media networks.

About Grey Group Asia Pacific

Grey Group ranks among the largest global communications companies and its total offering includes Grey (advertising) and G2 (brand activation). Its parent company is WPP (NASDAQ: WPPGY). 'Famously Effective Since 1917', Grey Group serves a blue chip client roster of many of the world's best known companies. Grey Group is represented in 96 countries, with 432 offices operating in 154 cities. In the Asia Pacific region, Grey Group covers 16 countries and is present in 28 cities. For more information about Grey Group Asia Pacific, visit www.greygroupasiapacific.com.

Candie Chiong
Vice President
Marketing & Corporate Communications, Asia Pacific
Grey Group Asia Pacific
Direct Line: +65 6511 7610
Mobile: +65 9697 3620
Email: [email protected]

Source: Grey Group Asia Pacific

Topic: Merger & Acquisition
Sectors: Daily Finance, Broadcast
From the Asia Corporate News Network

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