The luxury tycoon and CEO of Kering made the acquisition through his investment company, Artemis.
CAA’s leadership team of Bryan Lourd, Kevin Huvane, and Richard Lovett will remain in place, with all three men signing “long-term commitments to continue leading the agency.” Lourd is expected to be named CEO of the company under its new ownership. Jim Burtson will remain president.
Terms of the deal were not disclosed, though CAA’s current owner TPG was said to be seeking a valuation of about $7 billion. The sale comes just one year after CAA reshaped the talent agency landscape by acquiring ICM. The combined CAA and ICM was valued at the time at $5 billion. Pinault , will keep the agency privately held. The other holdings of Artémis include Kering, the luxury goods group that owns Gucci, Saint Laurent, Bottega Veneta, Balenciaga, and Alexander McQueen; the auction house Christie’s, a series of wine estates, and a contemporary art collection.
CAA’s rivals, however, haven’t been standing pat. Fellow “Big Three” agency UTA sold an equity stake to Investcorp and the Public Sector Pension Investment Board in 2018 and nabbed further private equity investment in 2022 to fuel significant growth, including a $125 million deal for strategic advisory firm MediaLink and the addition of U.K. literary and talent agency Curtis Brown Group and executive search and consulting firm James & Co.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
CAA Sells Majority Stake to Francois-Henri Pinault’s ArtemisFrench billionaire Francois-Henri Pinault has completed his acquisition of a majority stake in Creative Artists Agency. Through his family investment company Artemis, Pinault replaces private equit…
Baca lebih lajut »
CAA Sells Majority Stake to Investment Firm Led By Luxury Mogul François-Henri PinaultBryan Lourd, Kevin Huvane, and Richard Lovett will remain the co-chairman of CAA, with Lourd set to be named CEO.
Baca lebih lajut »
French Luxury Fashion Billionaire François-Henri Pinault Eyeing Majority Stake In CAAFrench billionaire Francois-Henri Pinault is in final talks to buy a majority stake in CAA in a $7 billion deal, according to an unconfirmed Bloomberg News report. Pinault, who is married to Mexica…
Baca lebih lajut »
Francois-Henri Pinault’s Artemis to buy majority stake in Hollywood agency CAAThe deal gives the Hollywood talent agency an enterprise value of $7 billion including debt, The Wall Street Journal reported.
Baca lebih lajut »
Police: Two arrested in Philadelphia after $29k theft from King of Prussia Gucci storeAuthorities have arrested two men accused of stealing nearly $30k in high-end merchandise from a Pennsylvania shopping mall late last month.
Baca lebih lajut »
Police search for suspect wanted in $29K Gucci theft at King of Prussia MallThe search is on for one of two masked men who stole $29,000 worth of purses during a robbery at the Gucci store at the King of Prussia Mall.
Baca lebih lajut »