Creative Artists Agency will acquire Beanstalk, a mainstay of the licensing sector, as it seeks to build its expertise in managing brands and the products associated with them.
Over the years, Beanstalk has helped Diageo’s Guinness enter into apparel and food; Kellanova, the company once known as Kellogg’s, find ways to bring its popular cereals into ice-cream products; and translate Dole fruit products into the kids and pets market. The company was founded in 1992 and has offices around the world.
Financial terms of the transaction were not disclosed.
Earlier this year, Beanstalk was acquired by its management team and an investment group led by the family office of venture capitalist and entrepreneur Jason Epstein. Previously, Beanstalk had been part of Omnicom Group, the large marketing-and-advertising services holding company that is merging with one-time rival Interpublic Group of Cos. Omnicom bought Beanstalk in 2005 from Ford Motor Co., which acquired the licensing agency in 2001 as part of a bid to boost its efforts in licensed merchandised tied to auto brands such as Ford, Volvo and Aston Martin.
Beanstalk will be integrated into CAA Brand Management. “CAA Brand Management and Beanstalk share a common belief in the power of creativity, collaboration, and integrity to create lasting brand value,” said Perry Wolfman, CEO of the unit, in a prepared statement. “We have long admired Beanstalk’s reputation for excellence and their dedication to client service. Bringing our teams together integrates two industry leaders that view brand stewardship not as a transaction, but as a trusted partnership grounded in purpose and performance.”
Allison Ames, CEO of Beanstalk, will become co-president of CAA Brand Management, alongside Noah Gelbart. The combination of assets, said Gelbart in a statement, offers “deeper category expertise, a broader global footprint, and greater strategic innovation.”
