DEAG expands market position in Switzerland
- Majority stake in Michael Drieberg’s Swiss group of companies
- Expansion of business activities into French-speaking Switzerland
- Successful continuation of the buy-and-build strategy
- Further growth impetus for the live entertainment and ticketing business
Berlin, 21 June 2019 – DEAG Deutsche Entertainment Aktiengesellschaft (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, listed in the Prime Standard, announces that via its wholly owned Swiss subsidiary AIO Group AG (including Good News Productions AG) it is acquiring a majority stake in the two companies Live Music Production LMP S.A. and Live Music Entertainment S.A., the company group owned by the promoter and event organiser Michael Drieberg. DEAG is thus expanding its business activities from German-speaking Switzerland into French-speaking Switzerland.
Michael Drieberg has been a successful promoter and event organiser in Switzerland for more than 20 years and organised shows and concerts with international stars of the music business such as Johnny Hallyday, Sting, Zucchero or David Guetta. Like DEAG, his group offers attractive events in the segments Rock/Pop, Family Entertainment, Arts+Exhibitions and Classics & Jazz. Its clear focus is on French-speaking artists and events such as “Disney sur Glace”, Patrick Bruel, Michel Sardou and others. With this event roster, DEAG complements its own portfolio and now covers the entire Swiss market. The Group also runs the famous Metropol Theatre “Salle Métropole” in Lausanne on Lake Geneva. Located in the heart of downtown Lausanne, the listed location has been offering up to 2,000 visitors a unique setting for live events of all kinds since 1929. Michael Drieberg is also the organiser of the open-air event “Sion sous les étoiles.” The event with up to 40,000 visitors per year is a long-established and regionally anchored event in Caton Valais.
With this acquisition of a majority stake, DEAG is continuing its successful buy-and-build strategy and expanding its Swiss activities into French-speaking Switzerland. DEAG’s Executive Board expects this step to create growth potentials for the live entertainment and ticketing business. Successful events that previously took place exclusively in German-speaking Switzerland or French-speaking Switzerland will now also be offered in the other region. Synergies will also be created with regard to the “Salle Métropole.” Here, DEAG will contribute its expertise and many years of experience as the operator of the Jahrhunderthalle in Frankfurt/Main. After completion of the acquisition, Michael Drieberg will continue to manage the business and, together his team and DEAG, they will drive the growth of LME/LMP. For the Swiss market as a whole, DEAG expects in perspective profitable sales with a potential of around CHF 35 million.
“With this investment, we are accelerating the strategic expansion of our business activities in Switzerland. We are expanding our range of events to include first-class French-speaking artists and events and are gaining excellent access to the French-speaking market,” commented Detlef Kornett, member of the DEAG Executive Board.
“With DEAG, we are jointly establishing a network that offers all of us excellent growth opportunities. We have a long-standing, trusting relationship with Stefan Matthey and Good News Productions and look forward to expanding our joint activities,” added Michael Drieberg.