Millward Brown and ACSR join forces to create one of China’s most powerful research agencies
Naperville, IL, USA. 14 June, 2006. Millward Brown, a global leader and recognized authority in brand, communications and media research, today announces that it has signed a joint venture agreement with ACSR, one of China’s oldest and most respected market research agencies. The deal sees Millward Brown, through its parent WPP, acquiring the majority of ACSR’s stock.
With offices in Beijing, Shanghai and Guangzhou and formidable data collection facilities across urban and rural China, ACSR is widely recognized as one of China’s most innovative and dynamic marketing research consultancies. It offers clients qualitative and quantitative research solutions to their brand, communications, customer service and strategic retail management business issues.
ACSR and Millward Brown’s existing operations will merge to create a powerful full service, vertically integrated business that will see the new company, “Millward Brown ACSR”, become a top five market research player in the Chinese market.
Commenting on the acquisition, Millward Brown’s CEO Bob Meyers said: “China is now a key market for our global clients. At the same time, Chinese businesses increasingly want to understand how best to market their goods and services outside China. Our partnership with ACSR merges the best of Millward Brown’s global research expertise with the very best local market skills. Whether our clients have their base inside or outside of China, we are now able to offer unrivalled advice on how to grow their brands. We are truly delighted to partner with the talent of ACSR in this exciting venture.”
ACSR’s Chairman & President, Mr Yuxian Gao, becomes Chairman of the new company. He is widely known in Chinese marketing and business circles; is Vice-Chairman of the Chinese Association of Market Information and Research; and the senior director of the Chinese Market Research Association (CMRA).
Commenting on the merger, Mr Gao said: “Millward Brown’s advanced technology and international experience combined with ACSR’s in-depth local know-how will create enormous competitive advantages. The merger will also provide a much bigger platform for ACSR staff members, with opportunities to further their professional goals.”
Millward Brown ACSR will report into Millward Brown’s regional Africa Asia Pacific management structure based in Singapore.
The JV agreement is subject to approval from the authorities of the People’s Republic of China. It is hoped that the deal will be completed in August this year.