S4 buys US creative agency Cashmere

Cashmere was founded in 2003 by Ted Chung and Seung Chung and has a headcount of around 150. The agency produces content and campaigns for clients including Disney and Netflix.

The financial terms of the deal were not disclosed, but it will expand S4’s content practice in the US and its global cultural strategy offer.

Martin Sorrell, executive chairman at S4 Capital (pictured), said Cashmere would bring the “ability to translate contemporary culture into compelling content and reach diverse audiences”. 

He added: “It is particularly relevant, given the changes we see taking place around diversity and purpose, not only in the United States, but beyond.”

The merger is the latest in a string of acquisitions from S4 Capital since it launched in 2018, including Brazilian digital performance agency Raccoon Group, production company Staud Studios and performance marketing business Metric Theory.