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Ron Burkle's the Yucaipa Companies has acquired a minority stake in the Barcelona festival and its sister conference, Primavera Pro
By IQ on 21 Jun 2018
American private-equity firm the Yucaipa Companies has made a minority investment in Primavera Sound and Primavera Pro.
Yucaipa, led by Ron Burkle, has an existing presence in the live music market via its joint venture with Paradigm Talent Agency, X-ray Touring, Coda Agency and ITG, which forms part of larger fund for investing in live entertainment.
The Primavera deal, specifics of which were not disclosed, was first reported by Pollstar and confirmed to IQ by both Yucaipa and the festival.
Yucaipa Companies principal Frank Quintero says the two parties “saw each other as a partner who shared the same ethos and vision to continue to grow the brand”.
Primavera Sound is Spain’s biggest music festival, with a daily capacity of 35,000 at the Parc del Forum in Barcelona. It held its 18th edition, headlined by Nick Cave, Björk, the National, Arctic Monkeys, Migos, Lorde and Asap Rocky, from 30 May to 3 June.
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