MB Buys 70% Stake in Russia's ARMI-Marketing

Millward Brown has acquired a 70% stake in Moscow-based custom research firm ARMI-Marketing. Terms of the deal were not disclosed.

Founded in 1992, ARMI provides market research services in Russia and Ukraine, where it employs around 200 staff. Its consolidated unaudited revenues for the year ended 31st December 2012 were approximately RUB 735 million (£13m at today's exchange rates).

The firm first became a Millward Brown network member eleven years ago, and the global group says the majority stake will help it gain better access to long-term growth opportunities in Russia. Dimitry Pisarsky will retain the role of General Director of Millward Brown ARMI-Marketing, and will now become a member of Millward Brown's European leadership team.

Tim Wragg (pictured), Millward Brown's European CEO, comments: 'This joint venture gives international clients better and more consistent local service and also helps us develop new client relationships as they expand abroad in the future. Our talented teams in Moscow and Kiev are driving marketing best practice in Russia and Ukraine today, and Millward Brown's international clients now have better access to that talent and their insights into these complex, fast-changing markets.'

As a result of the deal, Millward Brown's parent WPP says it now holds companies with a total revenue of $300m in Russia.

Web sites: www.millwardbrown.com and www.armi-marketing.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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