The marketing agency Sold Out has been acquired by live entertainment specialists Reach4entertainment (R4E), headed by Lord Michael Grade, in a deal worth up to £10m.
London-based Sold Out has built a diverse portfolio in arts and entertainment advertising over the quarter century it’s been in business, serving high profile clients such as AEG presents, Live Nation and Cirque Du Soleil.
Services offered by Sold Out such as campaign development, media planning and buying, events, partnerships, design and creative, broadcast and digital media production will all now be folded into R4E’s own offer.
R4E chairman Lord Michael Grade remarked: "Sold Out has built an excellent reputation within the entertainment sector and has a high-quality, long term client base to match. It has delivered many successful campaigns across live music, festivals, sports and events, which are all areas where R4E is seeking to move in to. Bringing Sold Out into the group will enable us to strengthen our entire marketing and advertising offering."
Sold Out delivered gross profit of £4.1m in the financial year ended 31 May 2018.