BERLIN (CelebrityAccess) — Deutsche Entertainment Aktiengesellschaft (DEAG) announced plans to acquire a 75% in the Danish promoter and producer CSB Island Entertainment through its subsidiary DEAG Classics AG.
The deal will expand DEAG’s footprint in Scandanavia, in both the live entertainment and event ticketing segments, the company said.
Founded in 1994, CSB has grown to become one of the leading concert companies in Scandanavia, producing about 300 events a year when the world isn’t beset by a pernicious pandemic. CSB’s shows include original content such as “The Show – A Tribute to Abba,”, “Queen Machine Symphonic,” and “Disco Tango Eurovision Show,” which it owns the worldwide rights to, and an extensive partner network as well.
Following the acquisition, CSB company founder and CEO Carsten Svoldgaard as well as COO Kenneth Svoldgaard will remain shareholders in the company and will continue to manage the CSB along with their current team, which will also remain in place, DEAG said.
“DEAG has been working closely and successfully with CSB for many years, especially in the UK and Scandinavia but also in the Classics & Jazz sector. The investment in CSB is the next logical step of our trustful cooperation. Scandinavia is an economically strong market in Europe and is considered to be particularly digitally minded. We see good growth opportunities for our ticketing business in particular and expect to see synergy effects in our international business,” commented Detlef Kornett, member of the Executive Board of DEAG.
The financial terms of the transaction were not disclosed.