WPP acquires American company PEP

WPP, the British multinational advertising and public relations company, has acquired Promotion Execution Partners (PEP) as part of its investment strategy into important markets like the US.

PEP is a project management and procurement company that oversees shopper marketing promotions for clients in the US.

It has managed over $3.5bn in marketing spend across 35,000 campaigns for over 500 brands worldwide including clients like Heinz and Kraft Foods Group.

In North America, WPP companies collectively generated revenues of over US$7 billion and employed over 28,000 people.

The share price rose 0.12% to 1,708.09p at the close.