Deutsche Entertainment Aktiengesellschaft (DEAG) is accelerating its international expansion by acquiring 90 per cent of the shares of the British promoter and event organiser, UK Live, via its subsidiary Kilimanjaro.
UK Live has been established in the market as an event promoter for more than 10 years and is renowned for organising the Let’s Rock series of events in 14 locations across the UK. The company’s founders, Nick Billinghurst and Matt Smith, will stay on board as shareholders and will continue to manage the company in the long term.
Detlef Kornett, member of the Executive Board of DEAG, said of the acquisition: “In view of the positive development with regard to the vaccination situation in our core markets, we expect to see our business activities increasingly return to normal in the coming months. We are already setting the course for a continuation of our successful business development and can further expand our strong market position in the UK with the acquisition of UK Live. UK Live has its own productions and independently covers the complete infrastructure from stage set-up to technology. By focusing on the domestic market, UK Live’s business activities are hardly affected by Brexit. The partnership with UK Live offers us potential, especially for our ticketing and live entertainment business. For example, we will offer tickets for UK Live events for sale exclusively through Gigantic.com.”
Stuart Galbraith, CEO of Kilimanjaro, said: “The acquisition of UK Live adds attractive events and concerts to our events portfolio. Nick and Matt have many years of experience in the live entertainment industry and have shaped UK Live from its early days with “Let’s Rock The Moor” with 1,000 visitors to a successful company with over a dozen festivals and countless concerts within only a few years. Today, the four series of events “Let’s Rock, Penn Fest, Friday Night Live Norwich, and Sunday Sessions” alone attract over 200,000 visitors annually.”
Billinghurst said: “We are very excited about our future collaboration with DEAG and look forward to driving our growth journey together. With DEAG, we have a strong partner on our side, with whom we are ideally positioned for the post-corona era. Together we will soon be presenting our audience with top-class concerts and events again. I am sure that both sides will benefit from our merger in the long term.”