Martin Sorrell’s S4 Capital has announced its latest M&A deal—a merger with Los Angeles-based marketing agency Cashmere and S4’s Media.Monks. Terms weren’t disclosed.
S4 said the deal “significantly expands the capabilities of both its content practice in the USA and global cultural strategy.”
Just last month, fast-food giant Taco Bell named Cashmere its first culture AOR. The remit tasks the agency with handling Taco Bell’s cultural brand strategy and integration throughout its organization.
Cashmere was founded in 2003, by Ted Chung and Seung Chung (they’re cousins). With a staff of over 150, Cashmere specializes in “culturally relevant” content and campaigns for clients like Google, Instagram, Facebook, BMW, WarnerMedia, and others.
S4 executive chairman Sorrell said that Cashmere’s “ability to translate contemporary culture into compelling content and reach diverse audiences is a rare talent and something we want to integrate at the heart of our content practice. It is particularly relevant, given the changes we see taking place around diversity and purpose, not only in the United States, but beyond."