LONDON (VIP-NEWS) — Live music promotions company Kilimanjaro Group has sold a controlling stake in its business to German firm DEAG (Deutsche Entertainment AG).
Kilimanjaro CEO Stuart Galbraith said today that the move could offer the business an opportunity to further their existing projects in Europe, in cooperation with DEAG’s subsidiaries – Wizard Promotions in Germany, Good News Production in Switzerland and Blue Moon Entertainment in Austria.
In the UK market Galbraith will work closely with DEAG’s UK subsidiary Raymond Gubbay. Kilimanjaro will continue to operate under its existing structure and management team.
Stuart Galbraith said: ‘This is an exciting time for Kilimanjaro. We have always operated as an independent promoter and this deal allows us to continue to do so whilst benefiting from the support and reach of being affiliated with an organisation such as DEAG.
“We already have a lot of exciting projects in place for 2014 and this deal will mean that our customers and supporters can expect the same and more in 2015. It’s a time for growth and investment in our core regular projects whilst looking for interesting opportunities wherever they arise.”
Galbraith will continue to be in operational control of the business and additionally contribute his expertise to the international growth strategy of the DEAG Group.
Kilimanjaro Live promotes and produces music festivals such as Sonisphere, whose 2014 tour will include appearances by bands such as Metallica, Iron Maiden, Limp Bizkit and The Prodigy. In addition to the festival activities, Kilimanjaro Live stages around 350 events a year with international artists across the UK.
Detlef Kornett, Executive Board Member of DEAG, said: “This is a further strong stride into the UK market for us with a strong and well respected partner helping us to double our turnover in this market. We are also hoping that opportunities with exciting artists and tours for Germany, Austria and Switzerland will arise.”
DEAG is the largest promoter of classical music events in Europe.
With affiliated companies in Germany, the United Kingdom, Switzerland and Austria, DEAG stages more than 1,500 events per year in the fields of Rock/Pop, Classical Music, German Hit Songs & Middle-of-the-Road Music as well as Family Entertainment and sells more than 3.5 million tickets.
DEAG is expecting a turnover in 2014 of approximately 200 Million Euros.
According to Musicweek
