Ron Burkle’s Yucaipa Companies Acquires Minority Stake In Primavera Sound Spain

Eric Pamies – Primavera Sound 2017
Up to 65,000 visitors per day come to Barcelona

Los Angeles based investment firm The Yucaipa Companies has acquired a minority equity stake in one of Spain’s flagship festivals, Primavera Sound.

Yucaipa thereby continues to invest in a diverse portfolio, which includes live events, lifestyle and hospitality brands, including Soho House, The Ned, Nomad, The Line, Freehand, SLS and Delano.

Speaking on the Primavera deal, Yucaipa Companies principal Frank Quintero told Pollstar: “We each saw each other as a partner who shared the same ethos and vision to continue to grow the brand.”

He added that “the outstanding management team” of Primavera Sound, including Gabriel Ruiz, Pablo Soler, Alberto Guijarro and Alfonso Lanza was going to remain the same. The deal includes Primavera Sound subsidiaries, including the music business conference Primavera Pro, which takes place at the same time as the festival.

Details of the deal including the financials and the exact stake Yucaipa acquired remain undisclosed. When questioned what the deal meant for Primavera Sound going forward, Quintero said, Yucaipa was “a supporter of their existing plans to grow the brand.”  

Yucaipa’s most recent venture in live entertainment was a joint venture with U.K. based agency X-Ray Touring and Paradigm. The latter in turn has a partnership with London-based Coda Agency, which in turn is in a joint venture with Independent Talent Group, in which Yucaipa invests too.