Live Nation has acquired a majority stake in David Grutman’s Groot Hospitality.
Groot Hospitality’s portfolio includes dining, entertainment and hospitality brands. The company’s footprint currently includes Florida nightclubs and bars such as LIV, Story and Swan & Bar Bevy with Pharrell Williams.
The firm is set to expand with 11 new projects in Miami, Las Vegas, Dallas and Dubai slated to open in the next 24 months.
“Entertainment is the DNA of Groot Hospitality, so it was a natural fit for us to join the leading live entertainment company,” said Grutman. “Live Nation shares my passion for creating once in a lifetime experiences and together we will grow our portfolio worldwide while pushing the limits of fans’ expectations.”
The live entertainment giant will use Grutman’s expertise to launch offerings across Live Nation’s venues, festivals and events.
Grutman will remain as chief executive of Groot Hospitality along with executives Chris Cuomo and Mo Garcia.