Gucci owner Artémis buys US agency CAA from investment firm TPG

CAA’s Century City offices (CC: Minnaert)

Gucci owner François Henri-Pinault’s Artémis has acquired a majority stake in Creative Artists Agency (CAA).

The deal see privately owned Artémis acquiring the stake from investment firm TPG, with financial details not revealed.

The acquisition has been rumoured for months and is expected to formally close later this year, with Bloomberg previously reporting that the deal is worth around $7bn.

CAA, which houses talent including Tom Cruise, is expected to retain its management trio Bryan Lourd, Kevin Huvane and Richard Lovett when the deal closes, while Jim Burtson will remain president.

The deal comes as US agencies grapple with costs in the midst of the US writers and actors strike, which has shut down production.