CAA is doubling down on licensing and brand marketing, acquiring full ownership of CAA-GBG Global Brand Management Group, and renaming it CAA Brand Management.
The deal will give CAA a direct role in managing brand extension and licensing programs for CAA-GBG’s clients, which include Coca-Cola, Budweiser, Netflix, Playboy, and Formula One. Perry Wolfman and Noah Gelbart will lead CAA Brand Management.
CAA-GBG was formed in 2016 in a joint venture between CAA and Global Brands Group, with CAA owning 27.3 percent of the JV, and Global Brands owning the remainder. Global Brands announced last year that it would wind down operations due to a lack of liquidity. GBG’s bankruptcy ultimately led to the deal getting done to bring the brand business back to CAA, according to someone familiar with the matter.
Related Stories
Financial terms of the transaction were not disclosed.
“Our clients are always looking for new and innovative ways to engage with audiences, be it through their stories, their passions and priorities, or their values and beliefs,” said Kevin Huvane, co-chairman of CAA, in a statement announcing the deal. “This talented group of executives have built award-winning branded programs, and we are excited to bring their expertise in-house.”
CAA has been fairly aggressive in the acquisition space recently. Most notably it inked a deal to acquire ICM Partners in a major agency rollup, though that deal is being scrutinized by U.S. regulators. But it also acquired Tandem Entertainment, which like CAA-GBG is in the marketing and creative partnerships business.
The deals come as CAA’s majority owner, the private equity giant TPG, went public through an IPO. TPG has long been rumored to be setting up CAA for a public spinoff of its own, and the continued acquisitions by the agency will do little to shut down those rumors.
“We are extremely proud of the work our team has done, and continues to do, on behalf of our clients,” said Wolfman and Gelbart in a joint statement. “Integrating CAA Brand Management into the day-to-day operations of the agency will provide us unique access to CAA’s resources and relationships, which will amplify our efforts globally.”
