Major comms agency WPP is adding to its European footprint as it buys up 3K Agentur für Kommunikation (3K), a leading healthcare specialist PR agency in Germany.
Under the merger, financials of which were not shared, 3K will become part of the Hill+Knowlton Strategies (H+K) global network under WPP, which will “strengthen its healthcare presence in Europe and expanding its operations in Germany,” the agency said in a press release.
3K, which has been in the industry for a quarter of a century, as a healthcare agency, works across healthcare and biopharmaceuticals and has clients including Roche, AstraZeneca, Novo Nordisk, Teva and more.
“Amid today’s dynamic macroeconomic conditions, we have seen great resilience and growth in the healthcare sector, as well as across our own PR businesses,” said Mark Read, CEO of WPP, the largest ad agency in the world.
“Germany is our third largest market, and the addition of 3K to Hill+Knowlton’s growing portfolio further strengthens WPP’s global healthcare offer to clients.”
3K is the latest in a string of buyouts, including Fēnom Digital, Diff, Passport, Newcraft and Corebiz in the last six months alone.
This M&A spree “forms part of WPP’s accelerated growth strategy and focused M&A approach to continue to build on the company's core capabilities,” it added in the release.