WPP to buy German creative agency

Advertising giant WPP has agreed to buy German creative agency thjnk AG.

Founded in 2012 in Hamburg, with offices in Berlin, Dusseldorf, Munich, Zurich and New York, thjnk is a multi-award winning agency group specialising in advertising, design and corporate publishing. It was named Agency of the Year 2017 by German trade publication Werben & Verkaufen and employs 400 people.

The business will remain an independent brand within the WPP group, led by its founding partners Karen Heumann, Armin Jochum and Michael Trautmann along with Ulrich Pallas.

WPP said that following the UK’s vote leave the European Union last June, it is placing an even greater emphasis on growth in Western Continental Europe, which includes four of the Group's top 10 markets worldwide: Germany, France, Italy and Spain.

“This acquisition continues WPP's strategy of investing in fast growth markets and important sectors,” it said.

In Germany, WPP companies including associates collectively generate revenues of around $1.3bn and employ around 8,000 people. On this basis, Germany is WPP's fourth largest market after North America, the UK and Greater China.

At 1035 BST, the shares were down 0.3% to 1,571p.