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

Metro counts down to Christmas in Quebec

Holiday campaign includes 24 ads featuring TV talk-show host Eric Salvail

Cystic Fibrosis Canada picks its moment

Real stories are at the hear of the organization's first fully-integrated campaign

Fuse bolsters its content team

New digital strategist Anastasia Tubanos will help lead content strategy efforts

SoFresh embraces its Canuck roots

A dairy alternative brand tries to make its U.S.-grown ingredients more Canadian

Plan Canada refreshes Gifts of Hope

Annual giving campaign positioned as perfect gift for the hard-to-shop-for

Wake-Ups return after 65-year advertising slumber

A caffeine pill with broad consumer market ambitions

Pickle Barrel shows local food some love

Why the Ontario casual dining brand upped its focus on fresh ingredients

IPG’s Magna report predicts ad spending will slow in 2017

Next year's projected 3.6% growth is the lowest since the 2008 recession

Tourisme Montreal apologizes in advance

The city's 375th birthday celebrations will likely wake the neighbours all year