september 8 2023
French businessman François-Henri Pinault acquired a majority stake in Creative Artists Agency (CAA), which represents talents such as Tom Cruise and Brad Pitt, through the Pinault family’s investment company Artemis.
The news was released this Thursday through a joint statement published on the official website of the previous owners, TPG Company, but the financial data has not yet been revealed.
The deal, which would take between 50% and 60% of the stake, was previously estimated at around $7 billion (about €6,545 million) and is expected to be finalized by the end of the year.
The Company’s three executives – Brian Lord, Kevin Hoven and Richard Lovett – will continue to lead the Company.
In Lourd’s case, he will be named CEO, while Jim Bertson will remain CAA president.
In the announcement, Lourd, Lovett, Hueven and Bertson called Artemis a “blue chip strategic investor” whose interests and “deep understanding of global brands” match those of CAA and its clients.
Pinault’s company is valued at $43 billion (40 billion euros) and represents brands such as Kering, the luxury goods lines of Gucci and Saint Laurent, the Christie’s auction house and the Château Latour winery.
CAA was established in 1975 and is known for being at the forefront of recruiting talent in the Hollywood industry.
In the 1990s, the company increased its income and since then the firm – which also represents athletes and celebrities such as Tom Hanks, Beyoncé or Pinault’s own wife, actress Salma Hayek – has become one of the most powerful in entertainment. has become one.
The tie-up with CAA brings the Kering brands, which had a presence in the world of cinema as sponsors of festivals such as Cannes, closer to the world of entertainment and in turn, CAA opens doors for artists to film productions and European festivals. Is. Television.
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