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Hill+Knowlton Strategies to acquire Rice5

Hill+Knowlton Strategies, the WPP owned communications consultancy, has announced that it is acquiring digital creative agency Rice5, which has offices in Hong Kong and Shanghai.

This acquisition marks a further step towards WPP's declared goal of developing its networks in fast-growth markets and sectors.

At the end of 2013, Sir Martin Sorrell predicted the next economic boom will be spearheaded from China.

Rice5, which has 48 employees, has clients including Givenchy, L’Oreal Group and LEE Jeans.

Rice5’s unaudited revenues for the year ended 31 December 2013 were HK$16.6 million.

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