DEAG to take a ‘consolidation break’ in 2023

DEAG has announced a “consolidation break” in 2023 after acquiring 15 companies in the last two and a half years.

The Berlin-based live entertainment group’s recent purchases include Scottish promoter Regular Music, Ireland’s tickets.ie. platform, and German festivals Indian Spirit, Classic Open Air and Airbeat One.

“We have always been very careful not to take on anyone who has their backs to the wall,” DEAG CEO Peter Schwenkow told Tagesspiegel.

“We have bought 15 companies in the last two and a half years, some of which we have wanted to acquire for a long time. Covid has helped us in that some felt the pandemic was easier to endure in a group than alone. This is how we were able to grow and now have 47 companies in the DEAG Group.”

“For now, we are now taking a little consolidation break,” he added. “I still expect growth because the new holdings are making their contribution and because individual events are being rolled out further.”

“Covid has helped us in that some felt the pandemic was easier to endure in a group than alone”

DEAG’s acquisition spree came after it accepted a takeover offer from its largest single shareholder, Apeiron Investment Group, and its Malta-based subsidiary Musai Capital, in 2021.

The deal, which saw DEAG delist from Frankfurt’s Xetra stock exchange after 23 years as a public company, would provide the company with greater resources for future acquisitions, CEO Peter Schwenkow told IQ at the time.

“We have huge financial support from our investors for future acquisitions, and this support is much, much bigger than any money we could collect from the capital market,” Schwenkow explained. “So, on the one hand it gives us the freedom to do the right decisions, and on the other it gives us deep pockets.”

DEAG’s other acquisitions in the last two and a half years include CSB Island Entertainment, Fane Productions, Gigantic.com and C² Concerts.

The company produces and promotes live events in Germany, Great Britain, Switzerland, Ireland and Denmark, selling more than five million tickets are sold annually for more than 5,000 events. Last year, DEAG reported a record year with sales of around €300 million.

The company’s group includes Kilimanjaro Group (UK), Wizard Promotions (DE), UK Live, My Ticket (DE, AT, UK) and Belladrum Tartan Heart festival (UK).

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