Outdoor company the More Group is planning to buy Scandinavian poster company Wennergren-Williams (W-W) for 80m. If the deal goes ahead, it will be the company’s first successful acquisition in 20 years.
The acquisition will give More a claimed 43 per cent of the Scandinavian poster ad market. Through a joint venture, More already holds about 20 per cent of the Norwegian market. Outdoor in Scandinavia is worth nearly 84m.
The acquisition is the first of a number of overseas ventures planned by the poster company.
“W-W in Scandinavia is very similar to us,” says More Group chief executive Roger Parry. “It follows a strategy of developing the citylight (Adshel) format.”
The More Group was restructured last week. Md Vincent Slevin became chief operating officer. He is replaced as md by Peter Smyth, head of the group’s Irish division.