A five year €100 million ($88.19m; £61.4m ) trans-European agreement has been signed by food and household products giant Unilever and Paris-headquartered outdoor advertising specialist J C Decaux International.
The contract will focus on building awareness in emerging markets of Unilever brands such as Oxo, PG Tips, Domestos, Persil and Cif. Says Unilever’s worldwide head of media Alan Rutherford: “As a communication channel, outdoor is becoming increasingly important in helping Unilever connect with its consumers. As a key partner, J C Decaux offers us access to a quality outdoor solution in Europe.”
The relationship could roll out on a global basis if Decaux’s expansion plans come to fruition. “I hope that this alliance will pave the way for a global partnership,” said chairman/ceo Jean-Francois Decaux, “as Decaux expands in the US and Asia Pacific regions."
The deal so enthused one Parisian money-juggler, UBS Warburg, that it upgraded Decaux stock to “buy”on Wednesday, setting the target price at €16.25. But French investors inexplicably ignored this sagacious advice and Decaux’ share price on the Paris Euronext bourse slipped by 0.38% to €13.13.
Data sourced from: BrandRepublic (UK); additional content by WARC staff