CAA acquires full ownership of the CAA-GBG brand management group
CAA-GBG Global Brand Management Group, one of the world’s leading brand management agencies, will now be wholly owned by CAA, the company announced Wednesday.
Prior to this transaction, CAA-GBG was a joint operation between CAA and holding company Global Brands Group, which filed for bankruptcy last July. The two companies founded the business in 2016, and since then it has grown into a leading company for brand management, program management for Budweiser, Coca-Cola, The Cheesecake Factory, Formula One, Jaguar Land Rover, the Bob Marley Estate, Minecraft, Netflix, Playboy, Red Bull Racing, Riot Games, Skechers and many more.
According to CAA, the management group will immediately be renamed CAA Brand Management and will be integrated into the day-to-day operations of the agency. Perry Wolfman and Noah Gelbart, the group’s current co-leaders, will retain their roles, and current employees of the company, which has more than 160 people in 17 countries, will retain their jobs during the transition.
“We are extremely proud of the work our team has done and continues to do on behalf of our clients,” Wolfman and Gelbart said in a statement. “Integrating CAA brand management into day-to-day agency operations will provide us with one-stop access to CAA’s resources and relationships, which will amplify our efforts globally.”
The law firms Wachtell, Lipton, Rosen & Katz, Macfarlanes LLP and White & Case LLP served as legal advisors to CAA during negotiations to acquire full control of the company. Financial terms of the agreement were not disclosed.
“Our customers are always looking for new and innovative ways to engage with the public, whether through their stories, their passions and priorities, or their values and beliefs,” said Kevin Huvane, Co-Chair of CAA, in a press release. “This group of talented executives have created award-winning brand programs, and we’re excited to bring their expertise in-house.”