Global events company Mari has reached a “definitive agreement” to acquire ATG Entertainment, the theatre giant which operates dozens of venues across Europe and on Broadway.
ATG, which has been owned by private equity firm Providence since 2013, operates landmark theatres such as the Lyceum, Apollo Victoria and Savoy Theatre in London’s West End, hosting productions such as The Lion King, Wicked, and Paddington the Musical, as well as production and ticketing.
Mari has a portfolio of premium live properties across sports, art and entertainment, including the Madrid Open and Miami Open tennis tournaments, Barrett-Jackson Auction Company and the internationally renowned contemporary art organisation Frieze.
In October last year, the UAE’s IMI Media Group announced the expansion of its international investment portfolio with a stake in Mari, which was founded by US media tycoon Ari Emanuel.
Financial details of the ATG deal were not made public. The companies will operate independently until regulatory approval is given.
Mari said the “definitive agreement” to acquire ATG “reflects Mari’s conviction in the growing power of live experience and the passionate audiences it brings together, adding theatre as a defining part of its portfolio”.
In a statement, Mr Emanuel said: “I’ve spent my whole career in entertainment, and I started out in theatre. I’ve seen the industry reinvent itself many times, but live has only grown more powerful. Nothing connects great talent with audiences more directly. ATG has built one of the world’s great theatre businesses around that experience. This is a long-term bet on where live goes next.”
ATG, which hosts 18 million theatregoers at 16,000 performances each year, said the deal was a “significant moment” that recognises the strength of the business, and would help ATG “enter the next phase of growth, bringing a genuine commitment to live entertainment and an outstanding creative talent network”.
Melanie Smith, global chief executive of ATG Entertainment, said: “Mari understands live entertainment and what matters most to ATG: our theatres, the people behind them and the relationships we have built with producers, artists and audiences. That makes Mari the right home for our next chapter. We look forward to this new era and thank Providence for their unwavering support over the past 13 years.”
