MILAN – The Pino family is adding another gem to their personal luxury collection. French holding Artémis, owned by Kering (which owns brands such as Gucci, Saint Laurent, Balenciaga), has reached an agreement with private equity fund Tpg to acquire a controlling stake in Hollywood agency Creative Artists Agency.
After rumors over the past few weeks, official news has arrived regarding the fate of the American talent agency. The deal figures are unknown, but the holding company, with $40 billion in assets, is expected to acquire about 53%, according to information leaked to the Financial Times. In some ways, this is still an internal matter, given that CAA’s portfolio of sports and entertainment stars also includes Francois-Henri Pinault’s wife, Salma Hayek. Other famous names include: Scarlett Johansson, Brad Pitt, Margot Robbie or even Bruce Springsteen, but also Beyoncé and Steven Spielberg. Just a few days ago there was talk of investments of about $7 billion.
Salma Hayek and Francois-Henri Pinault (Reuters)
“CAA’s exceptional insight, relationships and access to all key industries, coupled with the high level of existing partnerships and ability to innovate, give the firm a tremendous role in delivering global opportunities for its clients,” said Francois Pinault, chairman and chief executive officer of CAA. Officer Kering.
In the booth, Brian Lourd, the super agent who represents Pitt, George Clooney and Johansson, will be named group chief executive once the deal closes. Along with Lourdes, Kevin Huvane and Richard Lovett will continue to lead the agency and remain co-chairmen, the companies said.
George Clooney in Venice (pen)
Artémis’ interest opens a new chapter in the Pinault saga and will involve the geographic diversification of its investments as well as the core luxury business (with which there may still be synergies from a marketing point of view). In 2010, when Tpg entered the 1975-founded agency, it did so for 35% of the capital, based on a $700 million valuation.