The previously-announced acquisition of Canadian live performance company Cirque du Soleil has been completed. The control-stake deal, estimated at US$1.5 billion in value, was led by U.S. private equity firm TPG alongside China’s Fosun International Ltd and the Caisse de dépôt et placement du Québec. Cirque founder Guy Laliberté will retain a minority stake. Mitch Garber, chair of the company’s board of directors, Claridge, and Cirque President and CEO Daniel Lamarre will also take ownership stakes. Lamarre said the new partnership has “already begun laying the ground work for the global expansion of the Cirque du Soleil brand.”
Cirque du Soleil closes previously announced transaction
MONTRÉAL, July 8, 2015 /PRNewswire/ – Cirque du Soleil (“Cirque”), the world’s leading producer of high-quality live artistic entertainment, today announced the closing of the transaction under which TPG, a global private investment firm, has acquired a majority stake in Cirque du Soleil, alongside partners Fosun and the Caisse de dépôt et placement du Québec. Cirque founder and strategic advisor, Guy Laliberté will also retain a minority stake in the Company. Mitch Garber, Chair of the Cirque Board, Claridge, Stephen Bronfman’s family investment arm, and Cirque President and CEO Daniel Lamarre will also acquire ownership stakes.
“With the assistance of our new partners, we have already begun laying the ground work for the global expansion of the Cirque du Soleil brand, as evidenced by our recently announced growth plans in Asia,” said Daniel Lamarre, President and CEO of Cirque du Soleil. “We look forward to working with TPG, Fosun and the Caisse for years to come, as we continue to bring Cirque’s extraordinary artistic vision to audiences around the world.”
“The incredible team at Cirque du Soleil is in a great position to continue building upon the legacy of excellence and imagination fostered by Guy Laliberté and to expand this iconic brand to new markets,” said Mitch Garber, Chairman of Cirque du Soleil. “On behalf of the entire investor group, we look forward to partnering with the Cirque team and seeing the amazing things that are yet to come from this truly unique organization.”
About Cirque du Soleil
Cirque du Soleil is primarily a creative content provider for a wide variety of unique projects. In addition to shows, the company, which has its International Headquarters in Montréal, extends its creative talent to other spheres of activity. While maintaining stringent standards of artistic quality and originality, Cirque du Soleil brings to innovative projects the same energy and spirit that characterize each of its shows.
Cirque du Soleil is a Québec-based organization providing high-quality artistic entertainment. Since its beginnings in 1984, over 160 million spectators in 400 cities and 60 countries have been thrilled by Cirque du Soleil. In 2015, 18 shows will simultaneously be presented around the world. Cirque du Soleil has been the recipient of many prestigious awards, including the Emmy, Drama Desk, Bambi, ACE, Gémeaux, Félix and Rose d’Or de Montreux. For more information visit www.cirquedusoleil.com.
SOURCE Cirque du Soleil
Photo courtesy of Reuters/Christinne Muschi