Live Nation is acquiring the festival and concert business behind events including Summerburst
Live Nation Sweden AB is acquiring the majority of Stureplansgruppen Live AB’s (SPG Live) festival and concert business – including the Summerburst and Lights festivals and SPG Live’s concert activities.
SPG Live is behind the Summerburst festival in Stockholm and Gothenburg, which has grown over its highly successful five years to become one of the most popular festivals in the Nordic region.
Vimal Kovac, CEO Stureplansgruppen:
“Stureplansgruppen’s work on festivals and concerts has been incredibly enjoyable, successful and profitable. In five years, Summerburst has established itself as Sweden’s leading festival, with over 100,000 visitors in 2014. And we already know that this year’s festival is going to beat all previous records.”
Anders Boström, festival head SPG Live:
As part of the acquisition, Live Nation is also entering into a partnership agreement with Stureplansgruppen concerning food and beverage operations for some of Live Nation’s events over the next five years.