Twelve years after it went into American and later Chinese hands, Cosette was once again a Cubacois. Kaisse de Depot at Placement du Quebec (CDPQ) and CVC Capital Partners announced that they have acquired a majority stake in the agencies of Blue Focus International, a subsidiary of the Chinese Blue Focus Intelligent Communication Group. This includes Cosset, the owner of Vision 7 International and communications agencies, Cosset Media, Eleven & Citoen, along with the English agency VR Social and the American Fuse Project. The new group will be headquartered in Quebec.
The agreement creates a global group of digital and tech-focused advertising and marketing services agencies. The new company has more than 2,500 employees in 12 countries in North America, Europe, the Middle East and the Asia-Pacific region.
“Our partnership with CDPQ and CVC will allow us to pursue our expansion and transformation strategy,” said Brett Marchand, President and CEO of Vision 7 International, who will now serve as CEO for the new company. This investment in our geographical expansion and increased capabilities, as well as next generation technology and data offerings will enable us to provide leading services to our customers and provide unparalleled development opportunities to our customers. Talents from all over the world. ”
“CDPQ is very pleased to be a part of this transaction, which will pave the way for the birth of a new global communications and marketing group to be established with a center of expertise and headquarters in Quebec,” said Kim Thomas, Senior Vice President and Head. Investments in Quebec and Sustainable Investments.
Vision 7 was first acquired by American Investment Fund Mill Road Capital in 2009, holding a 51% stake and sold to Blue Focus in 2014.
The transaction amount was not disclosed.