Superstruct Entertainment has bought The Music Republic, the promoter behind iconic Spanish festivals Arenal Sound and Benicàssim (FIB).
Providence Equity-backed Superstruct reportedly acquired 100% of the Valencia-based organiser for around €120 million, to be paid over the next five years.
Following the purchase, The Music Republic founders, brothers David and Toño Sánchez, will “continue to have full control and power in decision-making”.
The brothers founded the company in 2010 with the launch of Arenal Sound, a 60,000-capacity festival that takes place annually in the providence of Castellón, eastern Spain.
In 2019, the brothers took over FIB (cap. 50,000) from owner Maraworld (majority owned by MCD Productions and SJM Concerts) and festival director Melvin Benn (Festival Republic).
That same year, there were rumours of Live Nation attempting to buy the company but the deal never crossed the line.
Superstruct reportedly acquired 100% of the Valencia-based organiser for around €120 million
Over the years, The Music Republic has added numerous festivals to its stable of events, including Festival de Les Arts de Valencia, Granada Sound, Interstellar Sevilla, Madrid Salvaje, Love the 90’s Valencia, Metal Paradise and Bahía Sound.
The company also functions as an artist management agency, organising tours and events throughout the country, as well as a creative agency.
One of the company’s latest projects is a collaboration with Licampa 1617, a holding company of Spanish entrepreneur Juan Roig that has was founded especially to build Valencia’s Arena Roig, the new area that will replace L’Alqueria del Basket.
The €220m multi-purpose arena will sit on 21,500 square metres of land, with a capacity of 15,000 for basketball matches and up to 18,600 for concerts.
The Music Republic has been tasked with programming the arena’s concerts, which it will do via its specially created subsidiary Arena Alive. The arena, set to be the largest in Spain, is expected to be complete this year.
Along with The Music Republic, Superstruct’s presence in Spain includes festivals Sónar (Barcelona) and Monegros Desert Festival (Aragon).
The live entertainment behemoth owns and operates more than 70 major events and music festivals in Europe and Australia, including elrow, Sziget, Wacken Open Air, Mysteryland, Hideout, sonar, Flow, Defqon1, Parookaville, Zwarte Cross, Arenal Sound, Øya, O Son do Camiño and Tinderbox.
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