Live Nation, via its JV with Gaiety Investments, has acquired leading UK promoter and venue owner MAMA & Company.
MAMA, which is now fully owned by LN-Gaiety Holdings Ltd, operates nine venues in the UK, including the Forum in London’s Kentish Town, the Jazz Cafe in Camden and The Ritz in Manchester.
In addition, it promotes a string festivals including The Great Escape in Brighton, plus Love Box and Citadel in Victoria Park, London.
“We are delighted to be welcoming new venues, and some that we have previously managed, into the group,” said Paul Latham, chief operating officer at LN-Gaiety.
“We are delighted to be welcoming new venues, some we have previously managed, into the group.”
Paul LAtham, Live Nation / LN-Gaiety Holdings ltd
“Likewise MAMA have made great strides with their festivals and the creativity they have demonstrated will be complimentary to LN-Gaiety’s existing portfolio.”
Private equity company LDC bought MAMA & Company – formerly MAMA Group – in December 2012 from a then-beleaguered HMV in a deal worth £7.3m.
When LDC snapped up MAMA Group – with a 50% stake in Mean Fiddler Group as part of the deal – it pledged to “increase the global influence of the group and its brands and enhance the prospect for faster growth from global sponsorship and promotions”.
Former MAMA CEO Dean James stepped down in 2013, and recently returned with his new investment-backed company, Sixth PLC.Music Business Worldwide