Business News Deals Live Business

Kilimanjaro buys Belladrum

By | Published on Monday 2 July 2018

Kilimanjaro Live

Live music firm Kilimanjaro Live has bought Scottish festival Belladrum, with which it has been working in a booking capacity for the last eight years.

The acquisition was confirmed last week by Kilimanjaro’s parent company DEAG. The German firm is known to be keen to further grow its interests in the UK market, despite having recently sold its stake in British classical music promoter Raymond Gubbay Ltd as part of a wider equity exchange with Sony Music.

Confirming the Belladrum deal, DEAG CEO Peter Schwenkow said: “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”.

He went on: “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”.