Live Nation Acquires Trunk Ltd; AC/DC, AEROSMITH, MÖTLEY CRÜE Merchandise Affected
July 14, 2006, 18 years ago
According to RealTimeTraders.com, Live Nation Inc. (LYV) announced yesterday (July 13th) that it acquired a majority stake in Trunk Ltd - a company of authentic lifestyle merchandise. The acquisition paves way for Live Nation's entry into the artist-merchandising arena.
Trunk Ltd has more than 60 exclusive licenses with many of the largest music superstars in the world, including AC/DC, AEROSMITH, THE BEATLES, JIMI HENDRIX, PINK FLOYD, THE GRATEFUL DEAD, THE DOORS, THE ROLLING STONES, MÖTLEY CRÜE and DAVID BOWIE.
Trunk Ltd will continue to be lead by founder, CEO and Creative Director Brad Beckerman who will also own the added responsibilities of that of President and COO of Merchandising at Live Nation.
Live Nation's resources will be utilized by Trunk to expand its distribution beyond traditional retail outlets into Live Nation venues by creating Limited Edition products only available on tour. Commenting on the transaction, Brad Beckerman CEO of Trunk Ltd. said, "Live Nation and Trunk Ltd share the same core consumer. Our partnership gives both of our companies the ability to enhance each other's brand."
LYV is currently down $0.16 trading at $21.34 on a volume of 77,400 shares.
