Kilimanjaro Group Announces a new Business Partnership
Kilimanjaro Group and CEO Stuart Galbraith are delighted to confirm that they have completed a deal with DEAG (Deutsche Entertainment AG ) which means that DEAG will going forward have a controlling share in the British concert, tour and festival promoter Kilimanjaro live ltd and its subsidiary Twin Peaks Festivals Ltd.
The acquisition not only constitutes a significant milestone in the international expansion strategy of DEAG but also an exciting new chapter for Kilimanjaro. The partnership marks, for Kilimanjaro, an opportunity to further their existing projects in Europe, in cooperation with DEAG’s subsidiaries i.e. Wizard Promotions in Germany, Good News Production in Switzerland and Blue Moon Entertainment in Austria, whilst continuing its already substantial work in the UK touring and festival market. Specifically in the UK market Kilimanjaro is looking forward to working closely with DEAG’s UK subsidiary Raymond Gubbay. Kilimanjaro will continue to operate under its existing structure and management team and looks forward to the new opportunities and support that the partnership will offer.
Stuart Galbraith says:
‘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. ’
Stuart Galbraith is to continue to be in operational control of the business and additionally contribute his expert knowledge to accompany the international growth strategy of the DEAG Group. Kilimanjaro Live promotes and produces music festivals such as “Sonisphere”, a European series of festivals with a focus on Rock and Hard Rock, whose concerts will take place in Germany, Great-Britain, Italy, Norway, Finland, Switzerland and Poland in 2014 and have been seen by a combined audience totaling over 1.2Million since inception. The 2014 Sonisphere tour will include appearances by bands such as Metallica, Iron Maiden, Limp Bizkit and The Prodigy, performing in front of audiences totaling around 300,000. In addition to the festival activities, Kilimanjaro Live stages around 350 events a year with international artists across the UK. This includes artist and shows including Peter Gabriel, Ed Sheeran, Nitro Circus or Andrea Bocelli. Many of these stars, such as Red Hot Chili Peppers and Simply Red have been promoted by Galbraith and his team since their early beginnings.
Detlef Kornett, Executive Board Member of DEAG:
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 Deutsche Entertainment AG is a leading provider of live entertainment and the largest promoter in the strong margin business 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 has worked with artists such as David Garett, Peter Maffay, Kylie Minogue and The Rolling Stones.
DEAG is expecting a Turnover in 2014 of approximately 200 Million Euros.
As an integrated Entertainment Content Company, DEAG covers the entire value chain within the framework of its 360 degree approach. The shares of DEAG (ISIN DE000A0Z23G6) are listed in the Prime Standard of the Frankfurt Stock Exchange.