Live Nation completes acquisition of MAMA & Co4 August 2015
LN-Gaiety Holdings, a joint venture between Live Nation and Gaiety Investments, has completed the acquisition of UK venue and festival operator MAMA & Company.
MAMA’s venue portfolio includes The Forum in Kentish Town (pictured), Camden’s The Jazz Cafe and Barfly, The Garage, The Borderline and Hoxton Square Bar and Kitchen, all in London, along with Manchester Ritz, Birmingham’s The Institute and Arts Club Liverpool. It offloaded Edinburgh Picture House in late 2013.
The firm also promotes festivals including Lovebox and Citadel in Victoria Park, London.
“We are delighted to be welcoming new venues, and some that we have previously managed, into the group,” says Paul Latham, Live Nation’s chief operating officer for the UK and ROI. “Likewise, MAMA have made great strides with their festivals and the creativity they have demonstrated will be complimentary to LN-Gaiety’s existing portfolio.”
Earlier this year, MAMA appointed global business advisors AlixPartners as it mulled its options following two unsolicited bids for the firm.
Audience reports AEG Live was also in the running but was outbid by Live Nation at the last minute.
Former CEO and co-founder Dean James led MAMA’s 2012 management buyout from HMV before leaving the company last year. He was succeeded at MAMA by Rory Bett, who was previously the firm’s commercial director.