ATG Acquires Spanish Theater Operator
Entertainment company ATG has acquired Spanish theater operator SOM Produce. Financial terms were not disclosed.
ATG, majority owned by Providence Equity Partners, also recently acquired Celebrity Attractions, a touring Broadway show that operates throughout the United States.
Expansion Into the Spanish Market
The latest deal will see ATG enter the Spanish market and add five theaters in Madrid to its global portfolio of venues.
SOM Produce is a renowned theater producer and operator headquartered in Madrid, selling over 750,000 tickets annually.
The company claims to be one of the world's largest producers and distributors of musicals and plays in Spanish.
SOM Produce operates five theaters in the center of Madrid – Nuevo Teatro Alcala, Teatro Rialto, Teatro Nuevo Apolo, Teatro Calderon, and Teatro Amaya.
The company has produced more than 20 shows, including Matilda, Mama Mia!, Billy Elliot, The Book of Mormon, West Side Story, Grease, Chicago, Cabaret, and Priscilla, Queen of the Desert.
The company also produces and tours a number of theatrical productions throughout Spain.
Statements from Leadership
Ted Stimpson, CEO of ATG, said: “This is a great opportunity to further develop ATG’s operations in Europe and SOM Produce represents an excellent cultural fit; We're both very creative companies with a deep passion for showcasing great content in iconic locations.”
“This is a great opportunity to further develop ATG’s operations in Europe and SOM Produce represents a great cultural fit; We're both very creative companies with a deep passion for showcasing great content in iconic locations.”
Ted Stimpson ATG
Stimpson added: “Madrid is becoming a global center for theater productions and we have long admired the achievements of SOM Produce. We are excited about the opportunity to bring them into the ATG family and explore new opportunities for ATG in a thriving new market.”
“This partnership with ATG will help us leverage significant opportunities to meet this increased demand in the future.”
Marcos Camara, SOM Produce
Marcos Camara, CEO, Partner, and Executive Producer of SOM Produce, said: “This is an exciting new chapter for SOM Produce and we look forward to bringing more quality iconic Broadway productions and live entertainment to Spanish audiences.
“Madrid follows only the West End and Broadway in terms of global theater demand as the appetite for theater and live performance continues to grow across Spain.
“The partnership with ATG will help us leverage significant opportunities to meet growing demand in the future. We are so proud of what SOM has become and are grateful to our employees, manufacturing partners, and loyal customers who make us who we are today.”
ATG expands into Spain via acquisition of theater operator SOM Produce
