The Cossette agency returns to the Quebec fold

More than 12 years after its sale to American interests in 2009, the Cossette advertising agency is back in the hands of Quebec interests, at least in part. The Caisse de depot et placement du Québec (CDPQ) and CVC Capital Partners have just acquired it in a transaction the amount of which has not been disclosed.

CDPQ and CVC have acquired a majority stake in the BlueFocus International subsidiary of the Chinese giant BlueFocus Intelligent Communication Group. This subsidiary has three agency groups: Vision 7 International, parent company of Cossette, Cossette Média, Eleven et Citoyen, We Are Social (London) and fuseproject (San Francisco) agencies.

“This transaction will create a global platform, whose head office will be located in Quebec,” said in the press release announcing the transaction.

Established in 1972 in Quebec City, Cossette quickly became a big player in the industry, winning contracts for multinationals like McDonald’s, General Motors, General Mills and Home Depot.

In 2009, the company was bought by an American investment fund, Mill Road Capital, for approximately $ 130 million.

A few years later, in 2014, the Chinese group BlueFocus acquired a majority stake in the activities of Vision 7, parent company of the Cossette agency, for a sum of approximately $ 210 million.

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