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Bengough now sole owner of Koko Camden

Oliver Bengough, the founder of Koko, has taken sole ownership of the north London venue with the purchase of the remaining 50% of shares in owner/operator Obar Camden Holdings Limited (OCHL).

The 1,410-capacity venue – known as the Camden Palace until 2004, when it was purchased and refurbished by Bengough and his Mint Group company – was previously owned 50% by Bengough and 50% by Loton Corp.

As of 30 November, Bengough personally owns 100% of OCHL, following Mint Group’s pulling out of Koko in May.

“This marks a great day for the company and for the future of Koko,” he comments. “The well-being and continued success of this iconic live venue is now secured.”

“This marks a great day for the company and for the future of Koko”

Loton Corp is the parent company of live-streaming service LiveXLive, which in July acquired EDM ticket agency Wantickets.

Artists who have performed at Koko in its current iteration include Prince, Coldplay, Oasis and Amy Winehouse, while The Rolling Stones famously appeared at the then-Camden Theatre in 1964.

Koko posted a 2.4% increase in turnover in the last financial year (31 March 2015–31 March 2016), with an EBITDA (earnings before interest, taxes, depreciation and amortisation) increase of 7.2%.

 


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Mint Group pulls out of Koko

The Mint Group – the bar, nightclub and restaurant operator which had run Koko since its launch in 2004 – has terminated its management agreement with the Camden venue, effective as of 21 May.

Mint, which also operates nightclubs Mary Janes and Infernos, bars Elk and the Bison and Bird and Latin-Japanese restaurant Mommi, will have no further involvement with the 1,410-capacity venue as it “focus[es] our efforts on these other business interests at this time”, the company’s operations director, Larry Seymour, tells IQ.

Clapham-headquartered Mint had been running Koko (pictured) under a management services agreement since a share sale, explains Seymour. The venue was also owned by Mint until November 2012, when it was demerged.

“We own and operate a number of other businesses, and, after a long and successful spell with the team at Koko, it makes sense for us to focus our efforts on these other business interests at this time”

Koko’s management team now report directly to venue founder Oliver Bengough, who has a 50% personal interest in Koko (the remaining shares are held by outside investors).

“I’m very proud of the management team we have assembled, which has been the bedrock of our success,” says Bengough, “and 2016 is looking to be an even better year for Koko [as] we continue to move forward and work with the finest artists and musicians in the business.”

Koko posted a 2.4% increase in turnover in the last financial year (31 March 2015–31 March 2016), with an EBITDA (earnings before interest, taxes, depreciation and amortisation) increase of 7.2%.

Upcoming shows include the Melvins, Tegan and Sara, Jeremih, Gogol Bordello and Logic.