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Cirque du Soleil buys Blue Man Group

Canadian circus firm Cirque du Soleil has bought the US entertainment company Blue Man Productions as part of its drive to diversify beyond circus arts.

The Montreal-based circus troupe also said the acquisition would help it extend its global presence.

Cirque du Soleil is backed by a US private equity firm which also has also taken stakes in Burger King, Spotify and Continental Airlines.

It did not disclose how much it had paid for Blue Man Productions.

Cirque du Soleil has previously said it wanted to expand its reach, growing in China and adding new acts.

Chief executive Daniel Lamarre said in Thursday’s statement that the Blue Man Group acquisition was a “decisive step towards materialising these ambitions.

“We want to broaden our horizons, develop new forms of entertainment, reach out to new audiences and expand our own creative capabilities,” he added.

The company started in 1984 as a group of 20 street performers. It now employs almost 4,000 people and has 18 shows active throughout the world this year.

In 2015, a group that included US investment firm TPG Capital, took majority ownership of the company.

Cirque du Soleil sold to investors

Cirque du Soleil sold to investors

How Cirque du Soleil became a billion dollar business

TPG’s other investments include fast food chain Burger King, fashion retailer J Crew, music streaming firm Spotify and Continental Airlines.

Blue Man Group, founded in New York by three friends, has been performing since 1991. Investment firm GF Capital took a stake in the company in 2010.

It currently operates resident shows in New York, Boston, Las Vegas, Chicago, Orlando and Berlin, as well as two touring productions.

Source: business

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