Christopher BarrettPan-European promoter, ticketer and venue giant DEAG has acquired the remaining 25.1% stake in Handwerker Promotion from its founder Fred Handwerker.
Based in Unna, Handwerker primarily promotes shows in the North Rhine-Westphalia area of Germany but has also overseen tours across Europe. Among the acts it has worked with include Justin Bieber, Iron Maiden, The Rolling Stones, Lionel Richie, Beyoncé and Neil Young.
DEAG has held a majority stake in Handwerker since 2013. It said the full acquisition forms part of its ‘buy-and-build’ strategy. DEAG said it is reducing minority interests in its Group companies and strengthening its position in live entertainment.
This latest move follows its acquisition of all minority interests to take full control of German concert and tour promoter Wizard Live in January. The following month, DEAG took a majority stake in the Dortmund-based festival Jucy Beats (cap. 25,000).
Last year, it completed a 100% acquisition of Fane Productions, organisers of spoken word, literary and cultural live events including Barack Obama at The O2 arena. Fane was acquired by Kilimanjaro and Gigantic Tickets-owner DEAG in October 2021. The German company snapped up the remaining 25.5% in November.
Fred Handwerker, who founded the promoter more than 40 years ago, will continue to to lead the company alongside Johanna Holthöwer.
DEAG Group CEO Detlef Kornett, who is set to leave the company at the end of the year, said, “Over several decades, Fred Handwerker has built and shaped Handwerker Promotion with great dedication. His experience, network and instinct for successful projects are key factors in the company’s success. The full acquisition underscores our confidence in the future together with Johanna Holthöwer and Alex Handwerker.”