Citing its intention to bulk up its holdings in Europe outside the UK in the wake of Brexit, WPP confirmed today that it has agreed to acquire thjnk AG, a creative agency group in Germany. Terms weren’t disclosed.
Founded in 2012 in Hamburg, thjnk currently employs 400 people and, in addition to Hamburg has offices in Berlin, Dusseldorf, Munich, Zurich and New York.
The group’s offering includes advertising, design and corporate publishing.
WPP indicated that the agency would remain an independent brand led by its founding partners Karen Heumann, Armin Jochum and Michael Trautmann along with Ulrich Pallas.
“As a result of UK’s referendum decision to leave the European Union, WPP is placing an even greater emphasis on growth in Western Continental Europe, which includes four of the Group’s top 10 markets worldwide,” the holding company stated.
Those markets are Germany, France, Italy and Spain.
In Germany, WPP companies generate revenue of approximately $1.3 billion and employ around 8,000 people, making the country the firm’s fourth largest market after North America, the UK and Greater China.