Leo Burnett continues acquisition spree

Publicis Groupe has acquired Chinese ad agency W&K Communications and will rename the agency Leo Burnett W&K Beijing Advertising.The agency will be headed by W&K Communications' sitting chairman Guo Weijun and managing director Wang Yi. Both will report to Michael Wood, CEO for Leo Burnett Greater China.Financial details of the acquisition were not released but W&K Communications follows the acquisitions of EmporioAsia in May and CCG in 2007. The French advertising groups purchased Betterway Marketing Solutions and Emotion in 2006.Tom Bernardin, chairman & CEO for Leo Burnett Worldwide, said the acquisition not only increases market share, but add additional creative firepower."I anticipate great things from this partnership," he said.Wood said that the acquisition will "build back geographic footprint in the Beijing market" and increase presence with a highly differentiated model made up of three components from in-house creative, media to a TV production unit.He said the agency will act under a local agency model, powered by a global network and added that: "The timing could not have been better for me, heading to 2009 with a strong presence."For W&K, it is about expanding its presence overseas. Guo and Wang said, "We've continued to grow at a very steady pace over the past years, and we've reached a point where we need to make the jump from local to global."Founded in 2004, W&K Communications provides advertising, promotions, television production and media buying. Major clients include Air China, Mengniu, Yutong, Holiland, Tsingtao Beer and Daliyuan.