Kering’s François-Henri Pinault believed to be eyeing CAA acquisition

François-Henri Pinault, the chief executive officer of luxury fashion house Kering, is believed to be in “advanced” discussions to acquire a majority stake in Hollywood talent agency Creative Artists Agency (CAA).

For the firm, which represents the likes of Brad Pitt and Scarlett Johansson, such a deal could reel in “at least seven billion dollars”, according to Bloomberg News which cited people familiar with the matter.

CAA is currently backed by private equity firm TPG, with a final decision on the sale to yet be made and the possibility of discussions that could still end with no deal.

TPG first acquired a 35 percent stake in CAA in 2010, later boosting its holding to 54 percent and taking control of the business at a 1.1 billion dollar valuation, the media outlet noted.

Meanwhile, Pinault’s family owns a 41 percent stake in Kering, the group behind Gucci, Balenciaga and Saint Laurent, and boasts a net worth that saw him come in 30th on Bloomberg’s Billionaires Index.

If the acquisition goes through, it won’t be the first time Pinault and Kering have stepped into the world of film, however.

Since 2015, the Kering Foundation has been behind the organisation of the Women in Motion initiative at Cannes Film Festival.

Additionally, this year it was revealed that Saint Laurent had launched its own film production company headed by the brand’s creative director Anthony Vaccarello.