Vision7 confirms North American assets for sale

Mill Road is confirmed to be shopping Cossette to potential buyers

Could Cossette join one of the multinational giants?

Ending weeks of speculation, Vision7, Cossette’s parent company, confirmed late Wednesday afternoon that it is for sale.

“After five years of ownership, Mill Road Capital, a Connecticut-based private equity firm and the majority owner of Vision7 International, has decided to explore strategic alternatives for the company’s North American assets,” said the statement.

Headquartered in Quebec City, Vision7 has about 1,100 employees working for brands such as Cossette, Dare, Citizen Relations and Jungle Media in Canada. “Vision7 management is supportive of the review and is playing a major role in the process,” said the statement.

The statement does not mention Vision7′s European assets, which include offices of Dare, Elvis and Identica as part of EDC Communications. (The company also lists an office in Singapore.)

Launched 1972 when six partners bought a Quebec City design firm, Cossette expanded to Montreal and beyond Quebec before going public in 1999. The company was taken private again in 2009 after protracted legal fight between two long time leaders Francois Duffar and Claude Lessard in which Lessard emerged victorious with the backing of Mill Road.

In 2010, the company was restructured with Vision7 International created as the umbrella company for Cossette as well as Espirit de Corps (EDC).

Advertising Articles

Taxi absorbs Y&R

Changes limited to Toronto with no impact on Y&R's other offices in Canada

OPSEU campaign warns of drunk grocery shoppers

Public awareness campaign stems from concern around social safeguards

Friction in Formula 1 can help lift ad sales: Martin Sorrell

When a sport is under pressure, people grow more interested says WPP chief exec

Inside Facebook: How to make sense of audience measurement

Are brands getting a handle on the mobile revolution?

Sid Lee acquired by Kyu, Hakuhodo DY Holdings

The agency will remain headquartered in Montreal and maintain its leadership

Watch This: A Canadian shade of kink (kinda NSFW)

Durex Canada took a new position (or four) in time for Canada Day

On the Move: Changes at Exchange Lab, Bleublancrouge

A weekly recap of who's headed where in Canadian marketing and communications

Bullseye – Remember Equity?

Campaigns used to run for years. But as Mike Tennant observes, marketing has become mostly short-term plays

Vision7 phases out Dare brand, opens Camp Pacific

Shorkey, staff and clients remain, but Dare brand retired from Canadian market