Everyone knows that Martin Sorrell built WPP by first acquiring Wire & Plastic Products, a maker of shopping carts and whatnot. He used it as a shell holding company and leveraged it into the advertising behemoth that we are all famiiar with.
BNET was surprised to relearn this factoid in this Telegraph story about an unrelated merger in the UK.
It's true! Dig through WPP's web site (you probably want to avoid downloading the WPP search engine for the time being) and there is Delfinware, the company that WPP morphed into, celebrating its 40th anniversary of business. You can tell it's WPP because your browser labels it as such in the top corner.
Delfinware's sales numbers are too small to be broken out in WPP's financial reporting. But check out some of their product lines. How many of these wine bottle holders have you seen in your friends' homes? Sorrell gets everywhere!
The only disappointment: That WPP no longer makes actual shopping baskets, just functional, refreshingly non-designed kitchen and bathroom products.
- See previous coverage of WPP:
- Wall Street Downgrades WPP on Debt Fears; Has Sorrell Reached His Credit Limit?
- Citi Cuts WPP to "Sell"; Sorrell Defends "Suicide Pact" on Pay; Attacks Obama on Taxes
- Sorrell's Comments on Procurement Reveal Opacity of Agency Billing Practices
- WPP: Sorrell Sees No New Client Dollars; Layoffs Possible in Europe; Zimbabwe Eyes an Opportunity
- Could WPP Chief Sorrell's Successor Be Lord Stephen Carter?
- WPP Stock Down 11% as CEO Sorrell Gets $95 Mil. Pay Package. Coincidence?
- At WPP, Sorrell's $95 Mil. Pay Package Gathers More Foes -- But Passes Anyway
- WPP's Sorrell Wants $95 Million Pay Package; Sparks Protest at "Unnecessarily Complex" Scheme
- WPP's Sorrell Dusts Off Latest Wacky Recovery Metaphor: "An Italic L, Flipping Up"
- WPP Q1: Debt Doubles; "It's All Lehman Brothers' Fault"