Cirque du Soleil Sells Majority Stake to Investor TPG
By Mae Marie, Close-Up Media Staff Wrtier
Cirque du Soleil is expanding to China via a new agreement under which TPG, a global private investment firm, will acquire a majority stake in the company.
Cirque du Soleil founder Guy Laliberte will maintain a stake in the business and will continue to provide strategic and creative input to the company. Fosun, a privately owned investment group in China, will acquire a minority stake in Cirque du Soleil through a fund under its management.
The firms will work together to launch the upscale circus - known for its high-quality artistic entertainment - in China.
In addition, Caisse de depot et placement du Quebec will also acquire a minority interest in the company. Quebec businessman Mitch Garber, who has strong business ties to TPG, will also be part of the investor group. Garber will become Chairman of Cirque du Soleil. No financial terms of the transaction were disclosed.
"After 30 years building the Cirque du Soleil brand, we have now found the right partners in TPG, Fosun and the Caisse to take Cirque du Soleil forward to the next stage in its evolution as a company founded on the conviction that the arts and business, together, can contribute to making a better world," said Laliberte. "Just as importantly, I am thrilled that the investors have demonstrated such a strong commitment to Cirque's unique Québec cultural heritage and the creativity and imagination of our people."
"We are excited about the opportunity to bring our global platform of resources and know-how to propel the growth of Cirque's unique brand, content and capabilities around the world," said David Trujillo, partner at TPG. "We are inspired by Guy Laliberté's imagination and vision, and look forward to working with him and his talented team, as well as the vibrant Montreal creative community."
Guy Laliberte and his team have grown Quebec-based Cirque du Soleil into one of the world's largest and most well-recognized entertainment brands, touching 150 million spectators worldwide. The productions are among the most popular shows in Las Vegas, with as many as eight shows playing at the same time in Vegas venues.
According to a release, as part of the agreement, Cirque du Soleil's team will remain in place and TPG has made binding commitments to ensure that the headquarters and the creative activities of Cirque du Soleil will remain in Montreal, a community that has always been at the heart of Cirque's success. Daniel Lamarre will remain as Cirque's President and CEO.
The transaction is subject to customary closing conditions, and is expected to close in the third quarter 2015.
Goldman, Sachs & Co. acted as exclusive financial advisor to Cirque du Soleil. Norton Rose Fulbright acted as legal advisor to Cirque du Soleil. Ropes & Gray and Osler, Hoskin & Harcourt acted as legal advisors to TPG. McCarthy Tetrault acted as legal advisor to Caisse de depot et placement du Quebec.
More information and complete details:
www.cirquedusoleil.com
www.tpg.com
www.fosun.com
www.lacaisse.com
((Comments on this story may be sent to newsdesk@closeupmedia.com))
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Alexandra Scarborough
Gilt and Sarah Jessica Parker Unveil SJP by Sarah Jessica Parker Bridal Collection for SpringSarah Jessica Parker, in partnership with Gilt, kicked off the exclusive launch of SJP by Sarah Jessica Parker Bridal, Gilt’s first foray into bridal ready-to-wear that would have Carrie Bradshaw swooning.
The collection includes dresses, skirts, bodysuits and other pieces, ranging in price from $295 to $2,395 and from sizes 0 to 14.
"Collaborating with Gilt on my first bridal ready-to-wear collection was an opportunity I couldn't pass up," said Sarah Jessica Parker. "The team there is brilliant and allowed me to be imaginative and take risks as I was designing for the non-traditional bride. It has been quite fun to play around with colors, fabrics and details to create unique pieces for all kinds of brides." The collection, comprised of ten styles, is inspired by Parker's vision of a modern, non-traditional bride, and is designed to dress a woman for a variety of wedding milestone moments; from her bridal shower through her wedding reception. Styles offered are a unique mix of classic dresses and gowns, modern bodysuits, full skirts, and a jumpsuit. The color palette includes traditional bridal white, sleek black, plus pops of blush, poppy, light gray and blue.
Designed in collaboration with Gilt, the collection was produced in New York City utilizing fabrics like cashmere and stretch crepe sourced from Spain, Italy and France.
The pieces all feature carefully curated details like elegant bows, sophisticated cutouts, feathers, intricate embroidery and beautiful hand-stitched beading.
The actress and style icon is no stranger to chic bridal wear. Carrie Badshaw, famously played by Parker, took part in an elaborate bridal photo shoot in Sex and the City: The Movie. The shoot featured gowns from designers like Christian Lacroix and Lanvin. Parker famously wore a black wedding gown for her own wedding to Matthew Broderick in 1997.
"Not only is Sarah Jessica Parker's style known around the world, her point of view is one-of-a-kind," says Tom Ott, Chief Merchant of Gilt. "Sarah Jessica brings her impeccable taste and fashion sensibility to life in this collection. We think our customers will be delighted with the offering which is stylish and well-priced in the bridal category."
As part of the bridal launch, Gilt will also offer 15 exclusive styles from the SJP by Sarah Jessica Parker footwear line, each of which are complementary to the bridal collection.
To correspond with the bridal collection launch, Gilt City will present offers from some of Sarah Jessica Parker's favorite places in New York City.
The offers were each chosen as a way to help brides plan for and celebrate the big day with highlights including, Leather Spa, Lars Nord Studio Tailoring, Mah-Ze-Dahr Bakery, among others.
More Information:
http://www.Gilt.com/SJP -
Alexandra Scarborough
Tea Forté Introduces ‘Matcha’ CollectionConvenience meets tradition in Tea Forté’s new Ceremonial Matcha Bowl Set and the Matcha Single Steeps.
The company said its spring harvested, shade grown, stone ground, organic matcha tea is best served in a centuries-old Japanese tea ceremony called chanoyu: a preparation technique known for its centering meditative qualities.
"The launch of Tea Forté's Matcha collection represents our continued commitment to wellness and cultivating all the potential mental and physical health benefits of tea," says Tea Forté CEO Michael Gebrael. "In addition to our high quality Pure Matcha, we've also blended four distinct flavored Matcha varieties. Prepackaged in pouches measured out for a single serving, our Single Steeps Matcha is ideal for the office, travel, or to keep with you for a boost anytime."
Tea Forté noted its handcrafted ceremonial tea bowl, handmade bamboo whisk and measuring ladle “encourages serene enjoyment of our premium Kosher, gluten-free and vegan matcha blends.” These include: Pure Matcha, Chocolate Matcha, Coconut Matcha, Ginger Matcha, and Chai Matcha.
According to a release, in addition to its distinctive taste, matcha is prized for its health benefits. Steeped green tea contains only the antioxidants that can be extracted in water, while with matcha, the whole leaf is consumed.
Available now in select stores and online at teaforte.com.
QUICK 5
Expedia.com has released a year-end look at U.S. traveler behavior and trends for 2017, analyzing data to identify the most in-demand destinations, hotels, activities and more.
Among other insights, the roundup revealed:
- Labor Day was the busiest weekend for car rental
- Disney Theme Parks topped the list of things to do
- The average hotel stay was two nights
- Top destinations based on 2017 air travel included major global cities like New York, London and Bangkok
- Popular tourist destinations included Orlando, Cancun and Las Vegas