Germany based Ströer [Stroeer] Group takes on a new partner in the Emirates. Through an acquisition of a 60% stake in the local outdoor company, Concept Outdoor, Ströer [Stroeer] announces its foray into the booming UAE sector.
The partnership comes in wake of the boost being witnessed by the local outdoor segment and follows a rigorous scouting for a suitable affiliate. The Ströer [Stroeer] Group enjoys a number one ranking amongst the German outdoor media players and is placed third amongst its European competition. The Group markets 255,000 advertising faces in twelve countries and will reach net sales of more than USD 650 million in 2007.
“We at Ströer [Stroeer] are very conscious of offering workable solutions to our clients and have built a reputation of a sound professional network. We found Concept Outdoor to be the perfect partner to enter the UAE market. They are aggressive, dedicated and very honed in on the latest trends; it is these qualities that set them apart form others in the fray and we are very pleased to be announcing this joint partnership”, said Dr. Matthias Rumpelhardt, CEO, Ströer Media International GmbH.
The acquisition signals a new era for the outdoor market in the Middle East as the German counterparts will bring in their global expertise and a whole new range of innovative product lines.
“With consumerism on the rise, out of home media offers many exciting opportunities for the advertiser to reach its message in an interesting manner to its audiences. We at Concept Outdoor are sensitive to the evolving needs and are indeed eager to introduce these globally recognised solutions. Tie up with a company like Ströer [Stroeer] is indeed a very prestigious moment for us and a perfect answer to our quest for excellence”, said Aldrin Fernandes, CEO, Concept Group.
“Dubai is a key location and the hot spot for Ströer [Stroeer] Media International to enter the GCC area. Dubai is an impressive success story, and the city has an outstanding track record as an emerging hub between the Middle East, Asia and Europe. Dubai sets the stage for Ströer’s city furniture and advertising solutions that are among the most innovative in the industry, showing several international design prizes as well”, states Udo Müller, CEO, Ströer Out-of-Home Media AG.
“Dubai seemed a perfect platform to launch our regional foray. It is neck-to-neck with global dynamics and well poised as a perfect gateway between the east and the west. This is the best place for us to show our leadership in cutting-edge products that will shape advertising tomorrow. From here, we intend extending our footprint to other countries in the region”, said Dr. László Nagy, Chief Development Officer of Ströer [Stroeer] Media International.
