Artémis, the holding company of the Pinault family, announced on Thursday, September 7, an agreement to take control of the agency Creative Artists Agency (CAA) in Hollywood, which relates to the acquisition of the stake held by the fund of TPG investment, in leveraged buy-out (purchase with leverage), for thirteen years.
The holding company whose assets reach more than “40 billion euros”, according to the press release, thus marks an astonishing diversification. The Pinault family is known to be the controlling shareholder of the Kering group, owner of the luxury brands Gucci, Saint Laurent and Balenciaga: it holds 42% of its capital. She is the shareholder of Puma, the German sporting goods brand, which, for a time, was a subsidiary of the Kering group. It owns the Christie’s auction house, the Pinault Collection contemporary art foundation, the Stade Rennes football club, the Ponant company, a specialist in luxury cruises, the weekly Point and several wine estates, including Château Latour, Premier Grand Cru Classé.
Artémis gets its hands on one of the most powerful artist agencies in the world. Founded in 1975, CAA, headquartered in Los Angeles, California, has offices in London, Beijing, Geneva, Munich, Toronto and Stockholm, among others. She manages the careers of artists, athletes and actors. Among them are the singers Britney Spears, Beyoncé, Ariana Grande or the group Aerosmith, the actors Tom Hanks, Helen Mirren, Brad Pitt or Salma Hayek, wife of François-Henri Pinault, CEO of the Kering group.
In 2022, CAA had extended its playground during the takeover of ICM Partners, another figure in the Hollywood industry, for an amount of 750 million dollars, or 700 million euros, according to American media. This service company, whose activity requires little investment, generates a turnover of around 1.7 billion dollars. In fact, it would be very profitable: its operating margin is around 30%, according to sources close to the Pinault family.
Kering under pressure
The amount of the transaction signed by Artémis and the investment fund TPG has not been disclosed. But several American media, including the financial information agency Bloomberg, had mentioned, during the summer, a stake specific to value the American company at around 7 billion dollars, debts included.
“CAA fulfills all the characteristics to be part of the Artémis family, bringing to our other assets an increased diversity in terms of geographical presence and activities”, argued François-Henri Pinault, by press release, Thursday, September 7. The holding company is developing its portfolio across the Atlantic and deviating from the economic cycles of the personal equipment and luxury goods industry, sources close to Artémis indicate.
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