IMG Arts and Entertainment has acquired Taste Festivals. Livingstone advised Taste Festivals’ parent company, Brand Events, and its investor Ingenious Media Active Capital, on the transaction. Terms of the deal were not disclosed.
Livingstone, the leading independent, international investment banking firm, is pleased to announce the sale of Taste Festivals Ltd to IMG Arts and Entertainment, part of IMG Worldwide, the sport, entertainment and media company. Livingstone advised Taste Festivals’ parent company, Brand Events, and its investor Ingenious Media Active Capital, on the transaction. Terms of the deal were not disclosed.
Taste of London and the company’s other international festivals bring together the latest, greatest, and most exciting restaurants and world famous chefs to offer signature dishes and inspiration to thousands of foodies in one location over four days. Since its launch, Taste Festivals has rapidly grown into a global phenomenon, and is critically acclaimed as one of the world’s greatest restaurant festival brands. Taste now runs annual events in 17 cities across the globe, and works with over 100 of the world’s greatest chefs.
By positioning the business as a powerful brand speaking to lovers of fine dining around the world, Livingstone was able to market the business beyond the traditional events sector and to engage with more diverse strategic acquirers which recognized Taste’s broader potential.
Stephen Flint Wood, Senior Vice President & Managing Director IMG Arts & Entertainment, said, “IMG has witnessed the extraordinary rise in both the public’s love of great food and restaurants together with the ever growing demand for premium experiential events. We are excited about the potential to grow the business even further, and look forward to working with the team at Taste Festivals and our network of offices in over 30 countries to achieve this aim.”
“The Livingstone team immediately saw the value of Taste as a global brand with enormous potential, and knew the acquirers who had the most to gain from the acquisition. They provided excellent support throughout the process,” commented Chris Hughes, CEO of Brands Events.
Andy Bozzelli, Livingstone Vice President added, “Businesses targeting consumer passions such as food and fine dining continue to perform very well. We are delighted to have helped Brand Events and Ingenious realize the inherent value in the thriving global Taste brand.”