MUMBAI: WPP's wholly owned operating company GroupM has acquired New Zealand based media agency Chemistry Media Ltd.

Chemistry Media is a media planning and buying agency with operations in Auckland and Wellington. Key clients include Bank of New Zealand, Fonterra, Nestlé, and Restaurant Brands.

Since 2010, Chemistry has been affiliated with the MediaCom network, and currently trades under the name MediaCom. Following the acquisition, Chemistry will continue to trade as MediaCom. 

This acquisition marks a further step towards WPP's declared goal of developing its networks in fast-growth markets and sectors. In the Australia-New Zealand region, WPP companies (including associates) generated revenues of $1.2 billion in 2014, and employ 4,000 people.