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Business News Deals Live Business
DEAG buys Regular Music
By Chris Cooke | Published on Tuesday 6 December 2022
German live music firm DEAG has further expanded its UK interests by acquiring a majority stake in Scottish promoter Regular Music.
The deal has been done through DEAG’s UK subsidiary Kilimanjaro. Regular Music CEO Mark Mackie will retain a stake in the business and will also continue to manage the Edinburgh-based firm day-to-day. Though following the deal he’ll have closer ties with the wider Kilimanjaro business and its CEO Stuart Galbraith, and especially the Kilimanjaro-owned Belladrum Tartan Heart Festival, which is staged each August near Inverness.
Confirming the deal, DEAG CEO Peter Schwenkow says: “We admire the achievements of Mark with Regular Music in Scotland and are excited about the opportunity to support the business in the future whilst creating synergies between all of our UK companies including Belladrum”.
“DEAG’s success is based on entrepreneurship and Mark will be a valued addition to our group of entrepreneurs”, he goes on. “DEAG‘s presence in the UK and Ireland will be significantly strengthened through this new partnership and it fits extremely well with our strategy to further grow our business in our core markets”.
Meanwhile Mackie himself adds: “Lots of my agent friends have been telling me for years I needed more of a global presence but until I met with DEAG I had never felt comfortable enough with anyone to form such a partnership. However, it’s clear that DEAG care deeply about local identity and autonomy and with Stuart Galbraith and his team at Kili it has been proven to work so I’m delighted to be joining up with a like minded group of people moving forward”.
“I have personally known Stuart for more than 35 years since we both started out in the business”, he continues, “and am very much looking forward to working closely with him and the Kilimanjaro gang”.
