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The International group Live Nation-Gaiety Holdings has bought shares in the Warehouse Project and Parklife festival.

Pannone Corporate has advised the founders of The Warehouse Project and Parklife festival on a deal with international entertainment giant, Live Nation-Gaiety Holdings.

The Live Nation-Gaiety is a joint venture between two of the world’s leading live entertainment companies, Live Nation and Gaiety Investments have bought a substantial number of shares in the Manchester businesses in a move that will bring world class entertainment to the north west.

The Warehouse Project was founded in 2006 by Sacha Lord-Marchionne and Sam Kandel in the disused Boddingtons Brewery and is now one of the UK’s leading music venues.

The Parklife Weekender music festival, which takes place in Heaton Park, was launched in 2009 by a consortium led by The Warehouse Project and Ground Control.

Live Nation-Gaiety buys shares in Manchester’s Warehouse Project and Parklife Festival

This year’s line-up includes The Chemical Brothers, Major Lazer, Ice Cube, Busta Rhymes, Chase & Status and Bastille and over 140,000 people are due to attend the weekend event. The deal with Live Nation-Gaiety will provide The Warehouse Project and Parklife with a platform to fulfil their ambitious growth aspirations.

Partner Tom Hall, who led the Pannone Corporate team assisted by Victoria Dolan, Andrew Walsh, Katie Ward and Arshnoor Amershi said: “We have advised Sacha, Sam and the team for many years and watched The Warehouse Project and Parklife grow into two of the UK’s most important players in the live music industry.

“We wish them every success with their joint venture with Live Nation and cannot wait to see what they do next.”

Other legal advisors on the deal included Gateley (Paul Jefferson and Katie Porter, Manchester) and Squire Patton Boggs (Nick Allen, Alistair Francis and Kimberley Cottrell, London).