MAM
WPP’s Millward Brown buys out Cadem Advertising
MUMBAI: WPP‘s global research agency Millward Brown has acquired Chilean consumer insights company Cadem Advertising.
Millward Brown is a global company focused on brands, media and communications. It is part of Kantar Group, the insights arm of WPP plc.
Founded in 1997, Cadem has operated as a licensee of Millward Brown for many years providing brand tracking, quantitative and qualitative research services.
According to the official communiqué, Cadem employs 87 people and key clients include Coca-Cola, Falabella Retail, Nestle, Telefonica and Unilever. Its unaudited revenues for the year ended 31 December 2011 were approximately $6.55 million with gross assets of approximately $2.66 million.
This acquisition continues WPP‘s strategy of investing in fast growing markets and sectors and its commitment to developing its strategic networks throughout Latin America. The Group collectively employs (including associates) 15,000 people with revenues of $1.5 billion in Latin America.
Post acquisition, Cadem Advertising will become Millward Brown Chile, and, consequently, Millward Brown will consolidate its operations in Latin America, by being present in the entire region, with offices in Brazil, Mexico, Argentina, Colombia, Peru, Chile and Central America.
Millward Brown Latin America CEO Fabian Hernandez said, “This acquisition is helping us to leverage our business as the most important market research company in the region. Through our presence and service throughout Latin America and by offering excellence in our methodologies and analysis, we are consolidating ourselves as strategic partners for our clients in their market research and brand, media and communication consulting projects in Latin America.”
Brands
Safex Group appoints Richa Malhotra as group chief financial officer
Former Standard Chartered executive to steer finance
NEW DELHI: Safex Chemicals has appointed Richa Malhotra as group chief financial officer, strengthening its leadership team as the company prepares for the next phase of expansion in specialty chemicals and global agrochemicals.
In her new role, Malhotra will lead the group’s financial strategy, capital architecture and governance framework as Safex scales operations across multiple verticals including branded formulations, specialty chemicals and contract manufacturing.
A chartered accountant and graduate of Shri Ram College of Commerce, University of Delhi, Malhotra brings more than two decades of experience in business finance, strategic planning, corporate banking and client management.
Before joining Safex, she served as executive director, financial markets at Standard Chartered, where she led teams across India and Sri Lanka and worked closely with large corporates, global subsidiaries and commercial banking clients. Her expertise includes capital structuring, treasury operations, risk management and financial markets led financing solutions.
Safex Group promoter director and joint managing director Piyush Jindal, said the appointment comes at a pivotal time for the company. “Safex stands at an inflection point as we build an integrated platform across branded formulations, specialty chemicals and contract manufacturing. Richa’s experience across global financial institutions will strengthen our financial discipline and help unlock value across the group,” he said.
Malhotra said she was looking forward to contributing to the company’s next chapter of growth. “Safex has built a strong reputation over 35 years with its focus on integrity, innovation and agricultural insight. I am excited to be part of the organisation as it expands its footprint in India and global markets,” she said.
The appointment comes as Safex continues to strengthen its financial foundations and scale operations internationally, positioning itself for future growth milestones.
