CAA acquires full ownership in brand management firm

Inventive Artists Company stated Wednesday that it had acquired full possession in CAA-GBG International Model Administration Group, which works with firms together with Netflix, Budweiser and Coca-Cola.

CAA, identified for representing Hollywood expertise, music artists and athletes, fashioned the three way partnership with the Hong Kong primarily based International Manufacturers Group in 2016. The Century Metropolis company beforehand owned a minority share within the three way partnership.

Monetary phrases of the deal weren’t disclosed.

The transfer comes as expertise businesses are searching for methods to diversify their enterprise past the normal concentrate on expertise illustration by investing in sports activities, social media stars and enterprise manufacturers.

International Manufacturers has confronted mounting monetary pressures. Final yr, its U.S. subsidiary filed for Chapter 11 safety from collectors in New York.

CAA Model Administration has greater than 160 workers, and the group is co-led by Perry Wolfman and Noah Gelbart.

“Our purchasers are all the time searching for new and modern methods to have interaction with audiences, be it by way of their tales, their passions and priorities, or their values and beliefs,” Kevin Huvane, CAA’s co-chairman, stated in an announcement. “This gifted group of executives have constructed award-winning branded packages, and we’re excited to deliver their experience in-house.”

CAA has introduced plans to considerably improve its scale. The corporate in September stated it would purchase rival expertise company ICM Companions.

CAA, which employs roughly 2,000 folks globally, will transfer into new Century Metropolis headquarters on the Avenue of the Stars in 2026.