WPP has acquired an initial 30 per cent stake in Spanish advertising agency Segarra, Cuesta, Puig y Fernandez de Castro S.L and has options to acquire the remainder of the equity.
The agency has offices in Barcelona and Madrid and works with clients such as Adidas, Balay, ONO, IKEA, Pepsi, ING Direct, Pansfood and Damm.
The agency is ranked by Campaign as one of the four leading independent agencies in Europe.
SCPF will operate autonomously within the WPP Group and where appropriate will act as a partner to the J Walter Thompson Group on certain joint business initiatives.
The acquisition of SCPF is part of WPP's objective of developing world class creative capabilities and follows similar acquisitions and investments in Asatsu-DK in Japan, Batey in Asia Pacific, Chime Communications (HHCL) in the United Kingdom and Singleton in Australia.