WPP takes majority stake in Brazilian consultancy

WPP has bolstered its presence in Brazil after its operating company Millward Brown bought a majority stake in a branding valuation consultancy in the country. Based in Sao Paolo in Brazil, BrandAnalytics only employs 12 people but its clients include US retail giant Walmart and Spanish banking group Santander.WPP said: "This acquisition continues WPP's strategy of investing in fast growing markets and sectors and its commitment to developing its strategic networks throughout the dynamic Brazilian market."WPP, led by Chief Executive Sir Martin Sorrell, employs over 5,000 people in Brazil and its business there generates revenues of $800m.Shares in WPP were down 0.08% at 1187p at 09:44 on Friday.