CPLG has acquired a 49 per cent share in Pullman Licensing, a leading Russian licensing agency, as the firm continues its plans for international growth.
Pullman is owned by Igor Kuleshov, president and owner of Gulliver Holdings, one of Russia’s premier toy and clothing manufacturers and distributors.
CPLG and Pullman will collaborate on the overall management and operations, utilizing CPLG’s international industry knowledge and expertise and Pullman’s local strength in the market. Pullman will maintain the existing staff in their Moscow office and look to expand the existing portfolio of rights.
Pullman’s current portfolio includes Nickelodeon, Paramount, ROI Visual and Emoji across Russia, CIS, and the Baltics.
The venture, to be named CPLG Pullman, will also represent certain of CPLG’s portfolio, including Line Friends, one of the fastest growing global character brands, and Archie Comics, with further representation to be announced shortly.
Peter Byrne, CEO of CPLG, commented: "CPLG’s move into Russia is a logical next step and helps consolidate our expansion plans across the region, bringing further scale to our existing operations.
"We are very excited to be creating this new venture with Pullman, who are a strong established player in the market, to take the business to new heights".
Igor Kuleshov, owner of Pullman Licensing LLC, added: “We are sure that this partnership will give us additional opportunities for the business expansion in Russia and internationally.
"The combination of Pullman’s local knowledge and success and CPLG’s reputation and experience in this business is a winning combination in the Russian market”.
CPLG and Pullman aim to complete the transaction on or about October 30, 2018, subject to customary closing conditions and the execution of certain ancillary agreements.