Galbraith Gets DEAG Investment

UK promoter Stuart Galbraith has sold a majority share of his business to Peter Schwenkow’s DEAG.

Photo: Pollstar

Although the German promoting giant has subsidiaries in Switzerland and Austria, DEAG’s only presence in Britain has been through its purchase of classical music promoter Raymond Gubbay.

Galbraith, who heads Kilimanjaro Live and Twin Peaks Festivals Ltd., has apparently sought investment since his partnership with AEG got rocky in 2012.

The announcement said the acquisition not only constitutes a significant milestone in the international expansion strategy of DEAG but also signals an exciting new chapter for Kilimanjaro.

“The partnership marks, for Kilimanjaro, an opportunity to further their existing projects in Europe,” it said. Kilimanjaro’s current European reach is through the Sonisphere festivals it does with John Jackson’s K2.

“This is an exciting time for Kilimanjaro,” Galbraith said. “We have always operated as an independent promoter and this deal allows us to continue to do so whilst benefiting from the support and reach of being affiliated with an organisation such as DEAG.

“We already have a lot of exciting projects in place for 2014 and this deal will mean that our customers and supporters can expect the same and more in 2015.

“It’s a time for growth and investment in our core regular projects whilst looking for interesting opportunities wherever they arise.”

The 2014 Sonisphere tour will include appearances by bands such as Metallica, Iron Maiden, Limp Bizkit and The Prodigy, performing in front of audiences totalling about 300,000.

“This is a further strong stride into the UK market for us with a strong and well respected partner helping us to double our turnover in this market,” said DEAG director Detlef Kornett. “We are also hoping that opportunities with exciting artists and tours for Germany, Austria and Switzerland will arise.”