Business

TEG Acquires Australian Concert Promoter Van Egmond Group

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TEG adds another gem to its portfolio of live entertainment assets with the acquisition of Van Egmond Group, the concert promotion company which has produced some of the biggest tours ever to play Australia.

Based in Melbourne and led by Garry Van Egmond and his son Christo, Van Egmond Group is behind some of the biggest tours in the history of Australia's touring business.

Garry Van Egmond helmed the Dire Straits Brothers In Arms tour in 1986, a juggernaut that shifted more than 900,000 tickets when Australia's population was just 14 million.

That benchmark would stand for more than 30 years (Ed Sheeran's 2018 Divide tour is now recognized as the record-holder, moving past one million ticket sales in these parts).

Van Egmond's company also produced AC/DC's 2010 Black Ice tour, which shifted more than 600,000 tickets across 11 Australian dates, and the rock legends' Rock or Bust Australasia leg in 2015, which the company says sold 460,000 tickets across nine stadium dates in seven cities (five in Australia, two in New Zealand).

Over his career, the concerts veteran has sold upwards of 30 million tickets across contemporary concerts and theatre productions in the Australasian marketplace, including the Jesus Christ Superstar arena tour, Riverdance's The Show, and treks by Billy Joel, Rod Stewart, INXS, Prince, Bette Midler, Dolly Parton and more.

Comments TEG CEO Geoff Jones, "we are delighted to have him and Christo on board as part of the TEG family."

Coinciding with the new deal, Cindy Wilson, a 20-year veteran of the music and live entertainment industries, will be representing TEG Van Egmond in North America, based in Los Angeles. Wilson established BASE Entertainment's Asia headquarters and served as the entertainment company's managing director.

"We have seen TEG's phenomenal growth over the last few years under Geoff's leadership and we are very excited about joining TEG and look forward to delivering some big tours and events under TEG Van Egmond," comments Garry Van Egmond in a statement.

The newly-renamed company, TEG Van Egmond, will be active in North America and the U.K. and Europe for "top tier touring opportunities for Australia and South East Asia."

TEG operates globally out of six country offices. Its companies include Ticketek, one of the two ticketing giants in Australia and New Zealand; U.K.-based TEG MJR,  a live company that promotes and operates more than 2,000 shows each year, and boasts a four-strong portfolio of venues; Sydney's 21,000-capacity Qudos Bank Arena; and concerts and live arms TEG Dainty and TEG Live, both of which organized the Fire Fight Australia concert, which raised about $10 million for bushfire relief.

Investment company Silver Lake last year acquired TEG for a price tag in excess of $1.3 billion, sources say.

Jones, who served for 16 years with the Australian Defence Force, rising up the ranks to lieutenant-colonel, has great expectations for his business. "TEG is already Asia Pacific's leading ticketing, live entertainment and technology business," he said last year, noting the company's mission was to become a "global live entertainment powerhouse."