Thriller Live producer bought by German entertainment company for £5m
German live music promoter Deutsche Entertainment AG has bought out British entertainment producer the Flying Music Group, as it looks to expand into the UK theatre market.
Established in 1976, producer and promoter the Flying Music Group is behind theatre productions including Thriller Live and The Kite Runner, both of which are currently running in the West End, and forthcoming musical The Toxic Avenger.
DEAG has now acquired a majority shareholding of the company through its British subsidiary Kilimanjaro Holdings.
DEAG is one of the largest live entertainment providers in Europe, producing a range of concerts and live events, as well as having festival and family entertainment divisions. Kilimanjaro Live is based in London and works mainly in music, organising about 500 live music and entertainment events per year.
Through the £5 million deal with Flying Music Group, DEAG will expand its activities in the UK, moving into the touring plays and musicals market.
A statement from DEAG said its sales in the UK are expected to increase to more than €100 million in 2018 following the acquisition of the Flying Music Group.
Stuart Galbraith, chief executive of Kilimanjaro Live, said the deal was "another important step in [DEAG's] expansion into West End touring musicals and theatre".
The Flying Music Group's joint chief executives, Paul Walden and Derek Nicol, added: "As an independent promoter, this is an exciting development for the Flying Music Group. As our company continues to grow, we´re excited to be entering into a new chapter with the combined international strength of Kilimanjaro Live and DEAG behind us."