WPP buys contract publisher Forward
LONDON - WPP Group has acquired UK contract magazine publishing company Forward Group for an undisclosed sum. Forward publishes magazines for clients including British Airways Holidays.
WPP has acquired the full share capital of the company, which was founded in 1986 in London by William Sieghart and Neil Mendoza.
Foward employs 108 people and has established a high reputation for the editorial calibre of its contract titles.
Sarah Wyse, managing director at Forward, said, "When Neil and William set up Forward, it was with the idea that publishing could and should be a powerful means of communicating with a company's target audiences. WPP presents unlimited opportunity for our business."
As well as the British Airways Holidays magazine, Forward's clients also include Tesco, NCR, Egg, Patek Philippe and Halifax.
Forward reported revenues of £23.2m in the year to March 31 and had net assets of £2.1m.
The acquisition of Forward, which will operate independently within the WPP Specialist Communications division, continues WPP's strategy of expanding its comprehensive offer to clients in important growth sectors.
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