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This Circus Tent Just Got Bigger: Cirque Du Soleil Acquires Blue Man Group

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This Circus Tent Just Got Bigger: Cirque Du Soleil Acquires Blue Man Group

Cirque du Soleil will soon offer much more than a circus show.

In a move meant to expand its audience pool, Cirque du Soleil acquired New York-based Blue Man Productions. The Blue Man Group show has been performed in over 20 countries and has been seen by over 35 million people since 1991.

"We want to broaden our horizons, develop new forms of entertainment, reach out to new audiences and expand our own creative capabilities," said Daniel Lamarre, president and CEO of Cirque du Soleil. "Today, we are taking a decisive step towards materializing these ambitions."

The Blue Man Group is extremely excited about the acquisition, with co-founder Chris Wink stating: "Now, we find ourselves on the brink of our next chapter, and we have big ideas for the future. Only a global creative powerhouse like Cirque du Soleil could help us achieve our vision. Their commitment to artistic quality and originality is unparalleled and their creative resources are vast. It is an honor to join forces with their organization."

A Deal In The Making

Terms of the deal were not disclosed (Goldman Sachs served as the advisor), however, investors expected an acquisition like this one to play out in the near future.

TPG, a private-equity-firm, recently took a majority stake in Cirque du Soleil and valued the global entertainment leader at $1.5 billion. According to a report on CNBC, this is just the first of several deals being contemplated by Cirque du Soleil and TPG. 

Cirque Du Soleil Is Excited About The Future

"We are extremely excited to welcome the iconic Blue Man Group to our portfolio of shows. Their unbridled creativity makes them a perfect cultural fit for Cirque du Soleil. Our extensive marketing research also confirms that Blue Man Group is a strong 'love brand' with a solid fan base – something else our two brands have in common."
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Image Credit: By whoALSE from Melbourne, Australia - ALS_0974Uploaded by Ekabhishek, CC BY 2.0, via Wikimedia Commons

Posted-In: Blue Man Group Blue Man Productions Cirque Du SoleilM&A News Contracts Topics General Best of Benzinga

 

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