20 C
Rīga
Wednesday, May 22, 2024
No menu items!
HomeEstoniaPiletilevi Group acquiring majority stake in 2 Polish ticket sales companies

Piletilevi Group acquiring majority stake in 2 Polish ticket sales companies

Baltic ticket sales company Piletilevi Group is buying a majority stake in two Polish ticket sales companies and becoming the second largest ticket sales company on the Polish market as well as the largest player in Central Europe, brokering tickets for nearly 320 million euros per year.

According to Sven Nuutmann, co-owner and CEO of Piletilevi Group, Piletilevi Group is buying Biletomat and Kicket, which are well-known players on the Polish market.

“With this transaction, Piletilevi Group now owns a 77 percent stake in the companies being purchased, which will increase to 83.8 percent by 2026,” Nuutmann said.

According to him, the largest investment in Piletilevi Group’s history will ensure the company a nearly 30 percent market share in Poland.

“We now face the task of effectively connecting the companies that are being purchased and our existing company GoOut Poland, so that the best functionalities of Piletilevi Group and the new partners reach all our customers as quickly as possible,” Nuutmann said.

He added that the emergence of a ticket brokering company with strong market power on the Polish market will give the organizers financial security, supplement competition and offer a more diverse selection of cultural events to a larger audience.

“A ticketing system that has uniform standards and is connected across countries will significantly improve international cultural exchange,” Nuutmann said, adding that the conditions offered to event organizers so far will remain valid even after the merger of the companies.

According to Nuutmann, the technological level of the sales platform of the Polish companies being purchased is very good and will also speed up the completion of the new platform of Piletilevi Goup, in which the company has invested nearly six million euros. Piletilevi’s new platform will be completed in the first half of 2025.

According to Kicket CEO Maciej Wartacz and Biletomat CEO Konrad Kubaczewski, the partnership with Piletilevi Group, which has become the largest player in Central Europe, will ensure the continued development of the companies and provide the opportunity to offer event organizers even more effective support in event marketing and ticket sales.

“Konrad and I know each other for over six years and we have always had a common intention to unite and increase our business in Poland. Thanks to Piletilevi Group and private equity fund Baltcap, we can finally make it happen and become the second largest ticket sales platform in Poland in a market where tickets are sold for more than one billion euros per year,” Wartacz said.

The transaction was signed in Warsaw, the capital of Poland, on Tuesday and entered into force immediately upon signing. The transaction was co-financed by SEB Pank.

“Supporting local companies in their international expansion is one of our goals and we are very happy to be Piletilevi Group’s partner on this journey. The development of service-based companies has been very fast and competitive, so it is impressive to see how professionally Piletilevi has managed to grow, expand its reach and achieve a market-leading position,” SEB board member Peep Jalakas said.

Piletilevi Group, the largest ticketing environment in the Baltic states, started expanding vigorously in Central Europe last summer, when first it bought a majority stake in one of the largest ticketing companies in Romania, Bilete.ro, and then also in the Czech market leader GoOut.net.

“Our ambitions are not limited to this and we have at present started preparations to acquire companies in two more countries,” Nuutmann said.

According to him, Piletilevi has been noticed and several cooperation proposals are received from different countries every month.

“We choose partners very carefully and make sure that our values and future vision coincide with those of our fellow shareholders,” Nuutmann said.

The Piletilevi Group, owned by entrepreneur Sven Nuutmann’s investment company EastCom Capital and the international investment company Baltcap, is an international ticket sales and event organization company that operates in Estonia, Latvia, Lithuania, Romania, the Czech Republic, Slovakia and Poland. The company celebrated its 27th successful year of operation this year.

PiIetilevi Group operates in a market with a population of 79 million people. The volume of brokered tickets has grown to 16 million tickets with a total value of 320 million euros and the annual volume of visits to all websites is growing to 116 million per year. Piletilevi Group employs nearly 250 people.

Source: BNS

(Reproduction of BNS information in mass media and other websites without written consent of BNS is prohibited.)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

RELATED ARTICLES

Most Popular