TEG, the live entertainment giant that controls most of Asia Pacific, has officially expanded to Europe with the acquisition of the UK-based promoter and venue operator MJR Group this week.
MJR Group, which owns and operates venues throughout the UK like Cardiff’s Tramshed and The Mill in Birmingham, also has stakes in six other venues including Leeds’ The Warehouse. It promotes 2,000 shows a year and has previously toured artists like 50 Cent, Hans Zimmer, and Culture Club. TEG, on the other hand, hosts more than 200 events a year through its own promoters TEG Dainty and TEG Live. Additionally, it issues more than 28 million tickets annually with one of the two top Australian ticket sellers, Ticketek.
Through the deal with TEG, the MJR Group will have the opportunity to promote more talent throughout the UK.
While financials for the deal were not disclosed, MJR Group operations will be incorportated into TEG’s global offering and the MJR Group’s UK operations will be named TEG UK. MJR’s CEO and founder Richard Buck said in a press release that the move is a step in the right direction as a part of the company’s “rapid development,” noting that “we’ve worked hard to scale the business over the last five years and this next step in our evolution will further strengthen our position in the market.”
“Both companies are digitally-focused and this synergy allows both parties even more leverage by combining each other’s tech expertise and insights to best connect with live entertainment fans.”
TEG’s CEO Geoff Jones believes that the acquisition marks “a significant step toward TEG becoming a global live entertainment powerhouse” and MJR is a “great fit” for the company.
“[MJR] has strong management talent and a clever live entertainment model to which TEG can add ticketing, analytics and digital capability,” Jones said. “The MJR Group also brings significant additions to our venue portfolio.”
MJR’s partners including group CEO and head of UK Buck, Dan Ickowitz-Seidler of UK venues and Propaganda, and head of Australia and New Zealand Scott Meisti, will remain with the TEG group.
“The MJR Group has built a great reputation and lasting relationships in the UK, Australia and elsewhere, and I am thrilled to welcome Richard, Dan and Scott to the TEG family,” Jones said.
