WPP’s GroupM acquires 49% stake In Haworth Marketing + Media
What: WPP’s media agency GroupM has acquired a 49% stake in Minneapolis, MN, based independent media services agency Haworth Marketing + Media, to continue its strategy of investing in major markets such as the United States. Haworth will continue to operate independently.
Why it matters: Haworth clients include big box retailer Target, Ben & Jerry’s, DreamWorks and St. Jude Children’s Research Hospital.
WPP’s GroupM has acquired a 49% stake in independent media services agency Haworth Marketing + Media.Terms were not disclosed.
Haworth will continue to operate independently, but will now be “backed by the industry leader in tools and data, thus linking the art of consumer connections with the most advanced marketplace analytics,” according to a companies’ statement.
Haworth Marketing + Media clients include big box retailer Target, which has a substantial Hispanic marketing and media buying program in place.
Haworth claimed 2013 billings of US $700 million and gross assets of US $87 million. With a staff of 140 people split between a Los Angeles office and its Minneapolis headquarters, the agency manages media investment for clients such as Target, Ben & Jerry's, Beats by Dr. Dre, Honeywell, DreamWorks Animation and The Oscars.
According to WPP, the deal continues its “strategy of investing in important markets such as the United States.” Earlier this week, WPP announced a strategic 15% investment in online ad exchange AppNexus.
“We’ve admired what Gary and his team do for many years.We believe we can add to the compelling Haworth proposition through GroupM’s tools, technology, insights and trading scale. And in turn, GroupM’s agencies and clients can benefit from Haworth’s proven expertise in integrating brands into popular culture and content,” Irwin Gotlieb, Global Chairman of GroupM, said in a statement referring to Haworth CEO Gary Tobey.
“We believe this is a completely new, one-of-a-kind partnership that will bring tremendous value to our clients and our team,” he added.