The transaction between DeSilva + Phillips client Promotion Execution Partners, LLC [“pep”, www.peppromotions.com] and WPP has been finalized as of January 3, 2017. Pep, a Cincinnati-based marketing management and procurement company that oversees marketing promotions for clients, previously announced that it had agreed to be acquired by WPP, the world’s largest communications services company, subject to regulatory approval. With approvals granted, the transaction has closed.

The acquisition continues WPP’s strategy of investing in high-priority segments, such as shopper marketing and e-commerce, and important markets, such as the US. According to a recently published study, client spending on shopper marketing will approach US$15 billion this year, an increase of 6.4% over 2015.

“This acquisition will be extremely positive for our clients, employees, and supplier partners,” said Dave Kroeger, pep, President. “It combines the power of WPP; the world’s largest communications services parent company, with pep’s industry-leading marketing management and procurement expertise. Our clients will realize incremental value and savings with pep’s increased scale in procurement as well as the marketing solutions that WPP will bring to pep. It positions pep well for continued growth and innovation and I am tremendously excited to see the possibilities unfold.”

DeSilva + Phillips represented Promotion Execution Partners as sole financial advisor in this transaction.

About pep

Pep, founded in 2004, has to-date managed over $3.5 Billion in marketing spend across 35,000 campaigns for over 500 brands worldwide. Clients include Procter & Gamble, Kraft Heinz, Johnson & Johnson, General Mills, and Mars. pep, oversees budgets, timelines, and vendor coordination for Commercial Print, Digital, In-Store, and Direct to Consumer programs, which are seamlessly executed utilizing pep’s industry-leading marketing management and procurement platform called pepconnect®. The company employs 240 people in 20 offices servicing 14 countries across North and South America.

About WPP

WPP is the world’s largest communications services group with billings of US$73 billion and revenues of US$19 billion. Through its operating companies, the Group provides a comprehensive range of advertising and marketing services including advertising & media investment management; data investment management; public relations & public affairs; branding & identity; healthcare communications; direct, digital, promotion & relationship marketing and specialist communications. The company employs over 200,000 people (including associates and investments) in over 3,000 offices across 113 countries. For more information, visit www.wpp.com.