Untold, the largest player on the entertainment market in Eastern Europe, has signed a binding agreement with Mozaik Investments, through which the latter acquires a minority stake in Untold Group, providing growth capital for the development of Untold projects both regionally and internationally.
The aim of the partnership is the international expansion of the entertainment group founded in Cluj-Napoca in 2015, as well as the development of Untold into a brand with global impact. Currently, after 8 years since set-up, Untold has already gained international awareness, especially amongst the young public, fans of festivals and concerts; while consistently ranking among the top 10 festivals around the world in the last years; in the most important world charts, both as audience preferences and as artist preferences.
Along with the festival in the heart of Transylvania, the Untold Group organizes the biggest festival on a beach in Europe, Neversea; the Massif winter festival in Poiana Brașov; the most popular Christmas market in Romania in 2022, the West Side Christmas Market, as well as Neversea Beach.
In addition to the main business directions focused on events organization, Untold Group also includes other companies that provide services in the entertainment field: the sponsorship agency (The Sponsorship Agency), the communication agency (Magic Maker Communication) and the production house (Magic Maker Media House).
"I am convinced that by joining forces with Mozaik Investments we will be able to take huge steps in the global expansion of our main brand, Untold, but also of other projects of the group that have great potential, plus the development of new concepts. The complementary experience of our partners in scaling and accelerating projects, together with the dedication and passion of the Untold team, will help us capitalize on the opportunities that have arisen both nationally and internationally this year." - Bogdan Buta, Founder of Untold Universe.
"We are very excited about the partnership with Untold. Even though it is one of the most well-known and appreciated Romanian brands globally, our investment was mainly based on the people behind the brand. We believe that the team's expertise and motivation will be decisive in the expansion of the company, both locally and internationally." - Vlad Busila, Mozaik Investments
"Our investment in Untold is part of Mozaik's strategy to support leading companies and entrepreneurs and to participate in the creation of successful national or regional champions. Untold is already an incredible success and we believe that together with us, the company will accelerate its local and international development”. - Dan Farcasanu, Mozaik Investments
The transaction is yet to be approved by the Romanian Competition Council.