Private equity firms Berggruen Holdings and Sleeping Bear Capital have bought a majority stake in Los Angeles hybrid creative agency and consultancy Phenomenon.
“This is a first-of-its-kind partnership between Berggruen and Sleeping Bear Capital to leverage a platform like Phenomenon as a revolutionary and creative business model focused on action, not just ads,” Phenomenon CEO and founder Krishnan Menon said in a statement. “We believe we’ve cracked the code on the ‘agency of the future’ through our seamless integration of communications, creative, design, product development and brand strategy.”
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