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FKP has scaled back its involvement in the Danish festival market, selling its stake in both events to Brian Nielsen, Flemming Myllerup and Mads Sørensen's Down the Drain
By Jon Chapple on 16 Apr 2018
FKP Scorpio has sold its stake in leading Danish festivals Northside and Tinderbox for an undisclosed sum to Down the Drain Holding, which now owns 100% of both events.
Down the Drain, owned by festival directors Brian Nielsen and Flemming Myllerup and Beatbox Entertainment founder Mads Sørensen, is also the majority owner of Beatbox, and the co-owner of the new Haven festival in Copenhagen.
German-based FKP will continue to own a minority share of Beatbox, which books both festivals.
“We would like to thank the Danish team for their good collaboration so far, and are happy that we will continue to cooperate with Mads Sørensen and the rest of the Beatbox Entertainment team”, says Folkert Koopmans, CEO of FKP Scorpio.
“We have long wanted to consolidate the festivals under the Down the Drain umbrella”
Down the Drain Group CEO Nielsen says the company will now operate as an independent player in the Danish festival market.
“We have long wanted to consolidate the festivals under the Down the Drain umbrella, which today serves as Scandinavia’s largest independent concert and festival organiser,” he adds, “and we are pleased that it has fallen into place.”
In addition to Tinderbox, Northside and Haven, Down the Drain will in 2018 organise Sommertid i Søndermarken (1–2 June) in Copenhagen, Komos Festival (22–23 June) in Odense and Copenhagen and, through Beatbox, shows by Arctic Monkeys, Haim, the Black Angels, Calexico and Bon Iver.
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