DEAG Deutsche Entertainment Aktiengesellschaft: DEAG to acquire the Scottish Belladrum Festival
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft: DEAG to acquire the Scottish Belladrum Festival
DGAP-News: DEAG Deutsche Entertainment Aktiengesellschaft / Key word(s): Miscellaneous
29.06.2018 / 11:50
The issuer is solely responsible for the content of this announcement.
DEAG to acquire the Scottish Belladrum Festival
– DEAG subsidiary Kilimanjaro Live Limited to acquire 100% share
– Successful expansion of market activities in the UK
– Boost for myticket.co.uk ticket platform
Berlin, 29 June 2018 – DEAG Deutsche Entertainment AG (DEAG), Berlin, ISIN: DE000A0Z23G6, Ticker: ERMK, listed in the Prime Standard, has acquired a 100% of Scotland’s renowned Belladrum Festival through its 51% subsidiary Kilimanjaro Live Limited, based in London.
This step is in line with the company’s planned expansion of its UK business. Prof. Peter L. H. Schwenkow, CEO and founder of DEAG, comments: “Our strategy is to focus particularly on the growing UK market in addition to Germany. Our shareholding in Scotland’s well-established Belladrum Festival through our subsidiary Kilimanjaro Live Limited further improves our basis for profitable growth in this market. Belladrum has generated consistently positive operating results in recent years – a critical criterion for us. We also expect this acquisition to offer a positive boost for our ticket platform myticket.co.uk.”
Belladrum is a well-established festival in Scotland. It has sold out since 2009. Last year, 17,000 visitors flocked to the festival in the highlands of Inverness. Music fans appreciate its geographical location and regional roots. Kilimanjaro has been successfully involved with the festival for some time. Over the last eight years, the British organizer has exclusively booked artists for the festival, which presents a program of local up-and-coming talents alongside national stars every year. Artists like the British indie rock bands Bastille and Catfish and the Bottlemen as well as the British singer Ed Sheeran used that stage as a launch pad already and have been touring with Kilimanjaro since then.
DEAG Deutsche Entertainment AG (DEAG) is a leading entertainment service company and a provider of Live Entertainment in Europe with subsidiaries in its core markets. DEAG produces and profitably organises a broad range of events and concerts. As a Live Entertainment service company with an integrated business model DEAG has extensive expertise in the organisation, marketing and holding of events, as well as in ticket sales via its own ticketing platform ‘MyTicket’ for its own and third-party content. The highly scalable business model of MyTicket strengthens DEAG on its way to increasing profitability. DEAG promotes around 4,000 concerts and events a year and currently sells more than 5 million tickets, of which a steadily increasing share is sold via its high-turnover ticketing platform MyTicket.
Founded in Berlin in 1978 and listed since 1998, DEAG’s core businesses include Rock/Pop, Classics & Jazz, Family Entertainment and Arts+Exhibitions. The Family Entertainment and Arts+Exhibitions divisions in particular are of great importance to the further development of DEAG’s own content. With its strong partner network, DEAG is excellently positioned in the market as an internationally active Live Entertainment service company.
DEAG shares (ISIN: DE000A0Z23G6 | WKN: A0Z23G | ERMK) are listed in the Prime Standard of the Frankfurt Stock Exchange, the quality segment of Deutsche Börse.