Ambassador Group Acquires ACE
ACE’s management team will remain in place, Ambassador confirmed in a statement. The deal brings the total number of ATG venues to 45 in the UK, Australia and North America, including the two biggest theatrical markets – Broadway and London’s West End.
The Kings, Saenger and Empire theatres are listed on the National Register of Historic Places. The Majestic Theatre is a National Historic Landmark.
Brooklyn’s Kings Theatre has undergone a $95 million renovation into a state-of-the-art performing arts facility. It is Brooklyn’s largest indoor theatre with 3,072 seats, and reopened in February. Following Hurricane Katrina, New Orleans’ Saenger became the focus of a $53 million redevelopment. The 2,613-seat venue reopened in 2013.
The 2,153-seat Mahalia Jackson Theater for the Performing Arts underwent a $30 million refurbishment following Katrina.
The announcement follows ATG’s first U.S. acquisition, Broadway’s Lyric Theatre, which reopened its doors in 2014 following extensive refurbishment, and demonstrates the company’s “ambitious strategy” of international expansion.
“Our international vision is to roll out our unique fully integrated business model globally – expanding further throughout North America and into other territories worldwide,” said ATG joint CEOs Howard Panter and Rosemary Squire. “The acquisition of ACE presents us with a superb opportunity to work with old friends to help develop that vision.”