LONDON (CelebrityAccess) — Ambassador Theatre Group announced that it has signed a deal to acquire ACE Theatrical Group (ACE), which owns five venues in the US, including Kings Theatre in Brooklyn and a pair of venues in both New Orleans and San Antonio.
The deal will see Ambassador’s venue portfolio expand to 45 venues around the world, including key theatrical markets like Broadway and London's West End. The financial terms of the agreement were not disclosed.
The venues acquired in the deal include The Kings Theatre in Brooklyn, NY; The Saenger Theatre and the The Mahalia Jackson Theater for the Performing Arts in New Orleans; and the Majestic Theatre and The Charline McCombs Empire Theatre in San Antonio.
The deal continues ATG's expansion in the US, following their acquisition last year of the Lyric Theatre in New York. The Lyric just reopened following an extensive refurbishment to host a revival of the B'Way hit "Our Town" and has been announced as the home of Cirque du Soleil's first Broadway production, Paramour, which will begin performances on April 16, 2016.
"Our international vision is to roll out our unique fully-integrated business model globally – expanding further throughout North America and into other territories worldwide. The acquisition of ACE presents us with a superb opportunity to work with old friends to help develop that vision. ACE is a team that we know shares ATG's ethos, ambition and absolute passion for live theatre,” ATG’s CEO's, Sir Howard Panter and Rosemary Squire OBE, said in a joint press statement.