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Virgin Fest CEO Jason Felts acquires Kaaboo

The Kaaboo festival brand has been acquired by Virgin’s music festival arm, Virgin Fest, led by Kaaboo partner and chief brand officer Jason Felts

By Anna Grace on 19 Sep 2019

Virgin Fest acquires Kaaboo Del mar

Weezer perform at Kaaboo Del Mar 2019


image © Kaaboo

Jason Felts, chief executive of the festival arm of Richard Branson’s Virgin brand, Virgin Fest, and co-founder of Virgin Produced, has acquired Kaaboo festival from its co-founders.

Through a Virgin Fest affiliate, Felts, former chief brand officer for the festival, has acquired all of Kaaboo’s assets from Bryan E Gordon and Seth Wolkov. The pair, chairman and president of Denver-based private investment holding company, the Madison Companies, launched Kaaboo in 2015 at the Del Mar Racetrack (44,000-cap.) in California.

Financial details of the sale have not been disclosed.

The Kaaboo sale  comes days after the announcement that the festival had entered into a multi-year partnership with baseball team the San Diego Padres, moving the festival to Petco Park baseball stadium and renaming the event from Kaaboo Del Mar to Kaaboo San Diego.

“I attended the first Kaaboo Del Mar in 2015 with my parents,” says Felts. “It became clear that Kaaboo shared a like-minded approach to Virgin with customer service, while delivering a unique, differentiated, multi-sensory festival product.

“It was on that basis that we first invested and supported this vision in 2016. We look forward to the future of the Kaaboo brand and its festival experiences under our ownership.”

The Kaaboo team debuted two new spin-off festivals this year, a two-day event in the Cayman Islands and a three-day festival in Texas. A 2020 Cayman Islands festival, announced immediately after the close of the sold-out inaugural edition, has since been cancelled. No announcement has been made regarding a continuation of the Texas festival.

“It became clear that Kaaboo shared a like-minded approach to Virgin with customer service, while delivering a unique, differentiated, multi-sensory festival product”

Kaaboo co-founders Gordon and Wolkov comment: “We’re thrilled and delighted to have had this unique vision and grateful to be validated by this acquisition with such an experienced and progressive team.

“We are appreciative of Richard (Branson) and Virgin’s early support of our brand and confident that, in Jason and his team’s capable hands, the journey that we started to offer adults [of] a truly differentiated festival experience is sure to live on and grow for many years to come.”

Virgin Group founder Branson announced the launch of his own “multi-experiential” music festival last year, following the termination of Virgin’s V Festival sponsorship. The festival, also named Virgin Fest, was pegged to debut in the US this year.

The final Kaaboo Del Mar wrapped up on Sunday (15 September). Acts including the Dave Matthews band, Kings of Leon and Mumford and Sons played the sold-out event, with attendance surpassing 35,000 each day.

The first edition of Kaaboo San Diego will take place from September 18 to 20 next year, held in and around the San Diego baseball stadium, Petco Park (42,445-cap.). Tickets for the event, priced from US$199 for a three-day pass to $17,500 for the ‘Ultimate Hang’ VIP package, are available here.

 


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