Creative Artists Agency acquires full ownership of global brand management group CAA-GBG
Creative Artists Agency has acquired full ownership of the business of CAA-GBG Global Brand Management Group, one of the world’s leading brand management agencies.
Prior to the transaction, it was operated through a joint venture formed in 2016 between CAA and Global Brands Group.
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Financial terms of the transaction were not disclosed.
CAA’s new CAA Brand Management division will be immediately integrated into the agency’s day-to-day operations.
CAA Brand Management Group, which employs more than 160 people, is co-led by Perry Wolfman and Noah Gelbart. It has offices in 17 countries, including the United States, United Kingdom, China, India, Japan, South Korea, Thailand, Indonesia, Philippines, Germany, Spain, Italy, Australia, Brazil and Mexico, among others.
As reported, in November, the Hong Kong-based Global Brands Group ceased operations after a court order. The previous July, GBG’s North American arm filed for Chapter 11 in New York and sought to sell its assets, which included divesting brands such as Aquitalia, Ely & Walker and Sean John.
In 2016, WWD reported that Global Brands, a spin-off from sourcing giant Li & Fung, had taken a 72.7% stake in the CAA-GBG venture through its wholly-owned UK subsidiary, while CAA Brand Management controlled the remaining 27.3% of the company.
” Bankruptcy [of GBG] That’s what allowed us to bring the brand management business back to CAA,” said Wolfman. “We had wanted to do it in the past and that’s what gave us the opportunity to do it.”
CAA Brand Management currently manages programs for brands such as Budweiser, Coca-Cola, The Cheesecake Factory, Formula One, Jaguar Land Rover, Bob Marley Estate, Minecraft, Netflix, Playboy, Red Bull Racing, Riot Games and Skechers, among others .
“CAA Brand Management is a premier service offering, with a global footprint and impactful brand extension capabilities and expertise,” said Jim Burton, president of CAA.
“Our clients are always looking for new and innovative ways to engage with the public, whether through their stories, passions and priorities, or their values and beliefs,” said Kevin Huvane, co-president of CAA. “This group of talented executives have created award-winning brand programs, and we’re excited to bring their expertise in-house.”
Wolfman and Gelbart said integrating CAA Brand Management into the agency’s day-to-day operations will provide them with access to CAA’s resources and relationships, which will amplify their efforts globally. They will be able to take advantage of the synergies within their two buildings. Gelbart said CAA has “the most amazing talent and brands” looking to leverage these consumer partnerships.
Wachtell, Lipton, Rosen & Katz, Macfarlanes LLP and White & Case LLP served as CAA’s legal counsel.
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