MAM
WPP to acquire minority stake in Germany’s Hirschen Group
MUMBAI: WPP has agreed to acquire a significant minority stake in Germany’s independent agency Hirschen Group.
Following the investment, Hirschen Group will partner with WPP’s wholly owned agency, J. Walter Thompson Company. The stake acquistion is subject to regulatory approval.
Hirschen Group employs over 500 people in nine offices and provides integrated campaign services including advertising, public relations, public affairs, consulting and strategy. Bernd Heusinger and Marcel Loko founded the company in 1995. Martin Blach joined as CEO in 2005.
The existing team will continue to manage Hirschen Group, which will maintain its independent positioning, whilst being part of the J. Walter Thompson and WPP networks.
Hirschen Group’s revenues for the year ended 31 December, 2014 were approximately EUR 37.3 million, with gross assets at the same date of approximately EUR 17.0 million.
This investment continues WPP’s strategy of developing its services in fast-growing and important markets. Germany is WPP’s fourth largest market after the US, UK and Greater China.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI: Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
