Kering Owner Officially Acquires CAA

<p>Photo: Laurent KOFFEL/Gamma-Rapho via Getty Images</p>

Photo: Laurent KOFFEL/Gamma-Rapho via Getty Images

Artémis, the investment company owned by Kering's François-Henri Pinault, announced today that it acquired a majority stake in Creative Artists Agency, an entertainment and sports agency. Artémis replaced global investment firm TPG to acquire CAA, which gives Pinault more power in the entertainment sphere. Financial terms of the deal were not disclosed.

Artémis owns luxury conglomerate Kering, home to fashion giants such as Gucci and Balenciaga, as well as Christie's auction house; Pinault Collection, the largest private collection of contemporary art; and Artémis Domaines, a collection of exclusive wine estates. Now, with its acquisition of CAA, Artémis could become a major player in Hollywood.

CAA's Bryan Lourd, Kevin Huvane and Richard Lovett will remain the co-chairmen of CAA, and Lourd is expected to be named CEO. Jim Burtson, who led the CAA deal team, will remain CAA's president.

"As a leader in its field with an outstanding management team, a crystal-clear focus on providing world-class service to world-class clients and a tremendous track record of growth, CAA has all the relevant characteristics to be part of the Artémis family, adding increased diversity, both in terms of geographical footprint and business activities, to our other assets," Pinault said in a press release. "CAA's exceptional insight, relationships, and access across key sectors, combined with their widely regarded level of collaboration and innovation, gives the company a formidable role in driving global opportunities for its diverse and culture-defining clients. We look forward to supporting the agency's very bright path ahead."

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