QUEBEC CITY—Communications agency Cossette announced today that it has agreed to sell to a U.S. private investment firm in a deal worth approximately $131 million.

Connecticut-based Mill Road Capital LP is offering $7.87 per share in cash for all of Cossette’s issued and outstanding subordinate voting shares. It would delist the shares and take Cossette private if the deal goes through, said the release from Cossette.

This deal trumps a previous bid from Cosmos Capital Inc., which offered $5.25 per share for Cossette. In the summer, Cosmos, which is run by former Cossette founding partner Francois Duffar, had originally offered $4.95 per share for Cossette.

In addition to its head office in Quebec City, Cossette has Canadian offices in Montreal, Toronto, Vancouver and Halifax and international offices in New York, Irvine, Calif., Los Angeles, London, Moscow and Shanghai. It has approximately 1,630 employees worldwide.

The Mill Road deal is expected to close by the end of the year, assuming shareholders give their approval at a meeting scheduled for Dec. 18.

Stay tuned to Design Edge for any news of this sale affecting Cossette’s Canadian offices. Contact: Cossette.com