WPP acquires Saffron Hill Research
21 Jul 2009
WPP's wholly-owned brand development and marketing insight network, Added Value, is acquiring a 51-per cent stake in each of Saffron Hill Research Pte Ltd and Saffron Hill Philippines, Inc. (collectively called Saffron Hill), leading research houses in Singapore and the Philippines, respectively.
This investment is in line with WPP's strategy of developing its networks in fast growing markets and sectors.
The region of Asia Pacific is widely tipped to lead the recovery of the global economy and the Philippines has been identified by Goldman Sachs as one of the 'Next 11' world economies to watch.
As well as new markets, a key focus of WPP's strategy is consumer insight, a sector of increasing importance to clients. This investment further strengthens the Group's capabilities in this sector.
Founded in 2001, Saffron Hill employs 38 people and clients cover blue chip brands across a wide range of categories, from FMCG, media and telecommunications to pharmaceutical and finance, engaging with every level of their markets' consumers such as BAT, Epson, Johnson & Johnson, Microsoft, Nokia and Singtel. Its unaudited revenues for the year ended 31 December 2008 were $4.4 million, with gross assets at the same date of S$1.4 million.
Added Value Saffron Hill will continue to operate with autonomy under the leadership of Raymond Ng and Tessa Brown as managing directors of Singapore and Rina Zurbito-Igual as managing director of the Philippines. Ng, Brown and Zurbito-Igual will continue to build relationships with key clients in the region, including brands like Kimberly Clark, BAT, Epson, Aviva and SMART.
Janine Hawkins, CEO of the Added Value Group says, ''I am very excited that Saffron Hill is joining our Group. South East Asia is a huge opportunity for us, and right from the first meeting with Saffron Hill I knew that they would be a great partner for us in developing our Asian business. Raymond, Tessa and Rina have built a dynamic and creative business, and we are delighted to have their skills and experience within our growing team.''
Ng adds, ''As an independent agency, we are very aware that to stand out we need to continue to provide client service from senior, high calibre consultants and offer simple yet creative approaches that focus on solving our clients' issues. Added Value's approaches, tools and advanced frameworks will allow us to dramatically enhance this service and I foresee that we will be able to contribute to our clients' brand strategies at an even higher level.''
Saffron Hill Added Value will collaborate with other Added Value offices around the world to enrich the company's expanding client needs and bring solid experience especially in the Asia region.
