WPP’s Grey Acquires Majority Stake in Croatian Bruketa&Zinic
- by Radu Cotarcea
WPP announced on March 16 that its wholly-owned operating company Grey has agreed to take a majority stake in Bruketa&Zinic OM d.o.o. (“Bruketa&Zinic") in Croatia.
Founded in 1995 and based in Zagreb, Bruketa&Zinic is a full-service creative agency.
Following the acquisition, Bruketa&Zinic will merge with Grey Zagreb, a wholly-owned operating company of WPP and Grey Worldwide, to create Bruketa&Zinic&Grey. "This merger will strengthen WPP's offer in the Adriatic region and allow Bruketa&Zinic to tap into business opportunities throughout Grey's EMEA region,” argued the WPP release.
Bruketa&Zinic's revenues for 2015 were approximately HRK 20.9 million with gross assets of approximately HRK 12.9 million as of December 31, 2015. The company employs approximately 60 people.