Will Kering own Hollywood? François-Henri Pinault in talks to acquire CAA talent agency: the fashion giant’s billionaire owner may buy the company behind showbiz’s biggest stars in a US$7 billion deal

Jul 14 , 2023

Salma Hayek and husband François-Henri Pinault, the French billionaire behind Kering SA group, who’s said to be in talks about acquiring the CAA talent agency. Photo: Reuters

Creative Artists Agency is in advanced discussions to sell a majority stake in itself to François-Henri Pinault, the French billionaire behind luxury fashion house Kering SA, according to people familiar with the matter.

François-Henri Pinault, CEO of fashion group Kering. Photo: @redboyfr/Instagram

The TPG-backed talent agency could fetch a valuation of at least US$7 billion, said the people, who asked to not be identified because the information isn’t public. A final decision hasn’t been made and talks could still end without an agreement, one of the people said.

Representatives for CAA and TPG declined to comment, while a representative for Pinault didn’t immediately respond to requests for comment.

Kering boss François-Henri Pinault is himself married to Hollywood actress Salma Hayek. Photo: Getty Images

Since its inception in 1975, Los Angeles-based CAA remains one of the world’s premier representation firms, offering talent management services and packaged content for Hollywood studios. The company, like its rivals WME and United Talent Agency, is backed with funds managed by a private equity firm.

In 2010, TPG acquired a 35 per cent stake in CAA. Headquartered in Fort Worth, Texas, the asset manager in 2014 boosted its ownership share to 53 per cent to take control of the business at a US$1.1 billion valuation. TPG has made at least one major add-on deal since then, agreeing to buy a smaller companion agency in ICM Partners two years ago.

A demonstrator holds a sign in front of Paramount Studios during the screenwriter’s strike in Los Angeles, California, on May 2. Photo: AFP

A sale of CAA comes at a critical time for show business. The industry has been trying to adjust to quickly evolving streaming trends in a quest to reach profitability. As of Thursday, the industry is also facing a strike by actors as well as writers, the first time the two unions have gone on strike together in six decades.

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Luxury CEOs

The Creative Artists Agency is said to be in discussions to sell a majority stake to François-Henri Pinault, the French businessman behind Kering SA, which owns Gucci and Saint Laurent, among others
The news comes at a critical time in showbiz, with both actors and writers on strike in Hollywood – the first time the two unions have walked out together in 6 decades