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Billionaire Loans Tycoon Buys Bestival For A Reported £1.1m

Billionaire Loans Tycoon Buys Bestival For A Reported £1.1m

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DORSET, UK (CelebrityAccess) – Bestival and Camp Bestival music festivals have reportedly been purchased by billionaire loans tycoon, James Benamor,  just days after the company fell into administration.

Benamor, whose company Richmond Group Debt Capital, extended a loan of up to £1.6m to the festival back in February of last year, has now purchased the event company’s assets and brand for £1.1m.

Bestival was originally launched in 2004 by DJ Rob Da Bank and took place annually on the Isle of Wight before relocating to Dorset in 2017. Sister festival Camp Bestival, which is aimed at a family friendly crowd, launched in Dorset in 2006.

In a statement announcing the purchase, Benamor said: “We have been fans and supporters of Bestival since the beginning. Our children have grown up with wonderful memories of these festivals. Bestival is an example of Dorset being world class and we are keen to ensure that this fantastic institution goes on to delight families and local businesses for many years to come.”

According to an article published by The Guardian, Bestival administrators received multiple offers, however, Richmond’s was the best bid.

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