European live music promoter DEAG has acquired again.
This time, via its wholly owned Swiss subsidiary AIO Group AG (including Good News Productions AG) it’s buying a majority stake in the two companies Live Music Production and Live Music Entertainment, the company group owned by promoter and event organizer Michael Drieberg.
Drieberg has been a successful promoter in Switzerland for more than 20 years and has organized concerts for stars such as Johnny Hallyday, Sting, Zucchero, David Guetta and others.
He is also the organizer of the open-air event Sion sous les étoiles in Caton Valais.
DEAG’s portfolio now covers the entire Swiss market. The group also runs the Metropol Theatre Salle Métropole” in Lausanne on Lake Geneva.
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.”
“With DEAG, we are jointly establishing a network that offers all of us excellent growth opportunities.”
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.”
Detlef Kornett, DEAG
Detlef Kornett, member of the DEAG Executive Board said: “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.”
Michael Drieberg added: “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.”Music Business Worldwide