Ari Emanuel’s Mari has acquired IMG’s arts & entertainment and action sports events portfolios. Financial terms of the deal were not disclosed.
The move will see the global events and experiences company expand its portfolio and reach with Hyde Park Winter Wonderland, which welcomes more than three million visitors each holiday season, and the global Taste Festivals culinary series,
headlined by the Taste of London. Meanwhile, the sports portfolio includes the US Open of Surfing in Southern California and the Nike Melbourne Marathon.
“From London’s iconic Hyde Park Winter Wonderland to Taste Festivals worldwide, MARI’s growing presence across Europe, North America, Asia, and Australia furthers our ambition to build a global portfolio of cultural, lifestyle, and sporting events that connect millions of people through live experiences,” Emanuel said in a statement.
The latest deal builds on Mari’s previous acquisitions, which include Frieze and Barrett-Jackson; TodayTix Group, Secret Cinema and Show-Score; and a tennis portfolio featuring the Miami Open presented by Itaú, the Mutua Madrid Open, and other leading ATP and WTA tournaments.
Emanuel’s latest venture is backed by $2 billion in funding from a group of investors, including funds managed by Apollo, RedBird Capital Partners, Qatar Investment Authority, HSG, IMI media group, Ares Management funds, Dr. Patrick Soon-Shiong, a16z Growth, Nancy Zhang, FORTA Advisors, Main Street Advisors, Causeway Media Partners, Gannet Capital, Eric Schmidt, FMZ Ventures, Sideline Group, Curated Wealth Partners, Gaurav Kapadia, Bulat Utemuratov and Sanjay Govil. It also includes sports superstars Luka Dončić, Anthony Edwards and Sabrina Ionescu.
Akin Gump Strauss Hauer & Feld LLP acted as legal adviser and Goldman Sachs & Co. and LionTree Advisors LLC acted as financial advisers to MARI in connection with the transaction.
