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Creative Arts Agency has acquired full ownership of the business CAA-CBG Global Brand Management Group and is relaunching the brand development and management group as CAA Brand Management, the entertainment and sports agency announced on Wednesday.

Financial terms of the transaction were not disclosed.

Prior to the transaction, CAA-CBG was operated through a joint venture formed in 2016 between CAA and Global Brands Group. CAA said in a statement that the newly named division will “immediately be integrated into the day-to-day operations of the agency.”

“CAA Brand Management is a best-in-class service offering, with a global footprint, and impactful capabilities and expertise in the brand extension space,” said CAA president Jim Burtson in the statement. “We are thrilled to be able to bring these resources to our clients worldwide.”

CAA Brand Management is co-led by Perry Wolfman and Noah Gelbart and has more than 160 employees that will continue in their roles developing brand extensions for “some of the world’s most iconic brands.” CAA Brand Management has offices spanning 17 countries including the US, UK, China, India, Japan, South Korea, Thailand, Indonesia, Philippines, Germany, Spain, Italy, Mexico, Australia, and Brazil, among others.

“Our clients are always looking for new and innovative ways to engage with audiences, be it through their stories, their passions and priorities, or their values ​​and beliefs,” said Kevin Huvane, co-chairman, CAA in the statement. “This talented group of executives have built award-winning branded programs, and we are excited to bring their expertise in-house.”

“We are extremely proud of the work our team has done, and continues to do, on behalf of our clients,” said Wolfman and Gelbart in the statement. “Integrating CAA Brand Management into the day-to-day operations of the agency will provide us unique access to CAA’s resources and relationships, which will amplify our efforts globally.”

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Wachtell, Lipton, Rosen & Katz, Macfarlanes LLP, and White & Case LLP served as legal advisors to CAA in the transaction.

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