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Fest Team reaches preliminary deal to acquire Charmenko
June26
Fest Team, the largest promoter company in Bulgaria, has announced the signing of a preliminary agr
Fest Team, the largest promoter company in Bulgaria, has announced the signing of a preliminary agreement to acquire Turkish and Eastern Europe promoter Charmenko—including Charm Music and Charmworks.
This strategic move marks a crucial step in Fest Team’s growth strategy, aiming to strengthen its regional presence and expand its operations into Eastern Europe, the Balkans, Turkey, the Baltic States, and beyond.
The final contract is expected to be finalized later this summer.
"The acquisition of Charmenko is a transformative opportunity for Fest Team," said Stefan Elenkov (pictured), CEO of Fest Team. "It is a privilege to team up with a company that is both popular and respected in the music industry. By combining Fest Team’s expertise and professionalism in organizing major music events with Charmenko’s strong contacts and over 30 years of experience and industry knowledge, we aim to create a synergy that will redefine the music landscape of Eastern Europe. This strategic alliance will enhance our ability to connect artists with venues and festivals and offer end-to-end solutions that improve the experience for both performers and audiences."
Charmenko’s presence across all Eastern European markets will provide Fest Team with greater access to diverse musical talent and markets throughout the region, allowing the company to offer even more varied musical experiences to its audience while promoting cultural exchange.
Charmenko`s founder and owner, Nick Hobbs, said: “As a group of companies operating across the Eastern European region, we survived the COVID-19 pandemic, even returning to the growth we had in the previous decade. Despite the unfavorable period for independent promoters, our company was able to open new offices and double its size from 2021 without accumulating debt. I feel that now is the time to join a larger Eastern European organization that knows how to integrate creativity, synergies, and professionalism with long-term strategies and which places artists, audiences, and customers at the core of our mission.”
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