LOS ANGELES (CelebrityAccess) Los Angeles-based investment firm The Yucaipa Companies have reportedly acquired a minority equity in Spain festival Primavera Sound.
Details of the deal were undisclosed, according to Pollstar.
“We each saw each other as a partner who shared the same ethos and vision to continue to grow the brand.”Yucaipa Companies principal Frank Quintero told Pollstar. When asked what the deal meant for Primavera Sound, Quintaro said Yucaipa was “a supporter of their existing plans to grow the brand.”
Yucaipa’s investment portfolio includes live events, lifestyle and hospitality brands including Soho House, The Ned, Nomad, The Line, Freehand, SLS and Delano, Pollstar said.
Yucaipa Companies was founded by Ron Burkle in 1986.