Ariel Investments, through its subsidiary Ariel Alternatives, has acquired a significant 58.5% stake in My Code, a prominent multicultural media and marketing company. The strategic transaction, valued at $400 million, involved the purchase of the stake from private-equity firm Falfurrias Capital Partners and other investors.
The acquisition aims to accelerate Fortune 500 brand investment in multicultural audiences, showcasing Ariel Investments’ commitment to diversity and inclusion in the media and marketing sector. Willkie, a legal advisory firm, played a crucial role in representing Ariel Alternatives during the acquisition, facilitating the purchase of the majority stake in My Code.
This move underscores the growing importance of reaching diverse audiences, with My Code providing tailored solutions for brands aiming to connect with multicultural communities.