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Jul 30
2014

From ColumbusCEO.com: “Raine Takes Stake in Jimmy Buffett’s Margaritaville

In its four years of existence, the Raine Group has kept plenty busy with media and telecommunications deals. But its latest investment will tie the firm to a company best known for promoting lazy, boozy afternoons on the beach.

The firm disclosed in a letter to investors on Sunday night that it had taken a minority stake in Margaritaville, the restaurant operator and brand licensing company named after the hit song by Jimmy Buffett.

According to the letter, Buffett’s company generates more than $1 billion in annual gross sales.

Now it has bought a stake in Margaritaville, which runs restaurants in nearly two dozen resorts where one would reasonably find tourists kicking back with tequila, and which licenses out the name its majority owner made famous.

The company has had a few setbacks, including the recent announcement that it will close its casino and hotel in Biloxi, Mississippi. But Raine told investors that it believes its latest acquisition has “an incredibly strong built-in audience” and has room to grow.

Jul 01
2014

From Pacific Business News: “Jimmy Buffett’s restaurant in Waikiki to close by Aug. 31

Jimmy Buffett’s Restaurant & Bar at the Beachcomber will be closing and terminating its lease at the Holiday Inn Waikiki Beachcomber Resort on Aug. 31.

The restaurant opened in 2009. It is part of Margaritaville’s restaurant group, which has 21 locations in the U.S., Mexico and the Caribbean, according to its website.

Jun 20
2014

From Pursuitist.com: “See inside Jimmy Buffett’s new $8.25 million Beverly Hills home

When you think of Jimmy Buffett you think of Florida, the Caribbean, beaches and Hawaiian shirts. But the “Margaritaville” songwriter recently dropped $8.25 million for a sprawling, open estate in Beverly Hills.

Buffet’s new home was originally built in 1963, and was completely renovated by the previous owner. The home sports over 4,300 square feet of living space, four bedrooms and five bathrooms. The floor plan is open allowing flow from the living room, family room, kitchen and dining and outdoors for entertaining. Walls of glass throughout only enhance the home’s open feeling. There’s also a chef’s kitchen and office.

Outside, there’s a salt water pool and spa, a patio and bar.

May 23
2014

From Margaritaville.Com: Margaritaville.TV is here!
Join us for a special sneak peek of Margaritaville.TV this weekend & watch Jimmy & the Coral Reefers perform LIVE from Virginia Beach! Visit http://www.margaritaville.tv and click on LIVE BROADCASTS and sign up. We’ll be streaming live starting tomorrow at 7:30pmET with very special guests at 8pm!

Feb 25
2014

Jimmy Buffett dropped by Tekzilla to talk about Drones (he loves ‘em!), action cams (GoPro Virb!), talks SpaceX, cables, Margurillas backstage, using drones during concerts, and more!

Jan 19
2014

International Meal Company announces strategic partnership with Margaritaville Enterprises, LLC

International Meal Company Holdings SA Says on December 9th, 2013 it signed a contract with Margaritaville Enterprises, LLC for a strategic partnership that includes acquisition of eight restaurants under the Margaritaville brand in the United States. Says it also includes a holding of 50 percent of the economic rights in the other two restaurants of the same brand located in Universal Studios and Las Vegas Strip, in the cities of Orlando and Las Vegas, respectively. Says it has also signed an agreement for the purchase of two new restaurants and five restaurants under construction. Says as part of the strategic partnership, International Meal Company Holdings SA will have exclusive rights to develop and operate the Margaritaville brand at the airports in the United States and Latin America.

Javier Gavilan, CEO of IMC said, “This strategic alliance is about growing a powerful brand, in segments where we have a lot of experience and a proven track record; airports will be our first priority to develop this great brand and we have already found some very exciting opportunities. We have been partners with Margaritaville in Panama and Puerto Rico. And as we got to know Margaritaville’ s outstanding team through that relationship, we found that they shared IMC’s values of integrity, concern for employees, and delivering exceptional value and restaurant experience to our customers. Add to this the company’s powerful brand presence, growth potential, and the loyalty the brand inspires in its customers, and we found in Margaritaville the ideal platform for establishing our U.S. presence as a leader in the captive market sector of the restaurant business and the food and beverage business at airports.”

Current Locations: Las Vegas, Orlando, Myrtle Beach (icluding Landshark), Key West Restaurant & Store, Panama City, Mohegan Sun, Nashville, Chicago

Expansion Location: Cincinnati (opened), Atlantic City (opened), San Antonio, Destin, Pigeon Forge, West Palm, Syracuse

Oct 17
2013

Watch Jimmy Buffett and co-producer Frank Marshall on the red carpet on Broadway for the opening night of Big Fish.

May 29
2013

From Bloomberg BusinessWeek: “Welcome to ‘Margaritaville,’ the Most Lucrative Song Ever

New Jersey Governor Chris Christie cut the ribbon on Thursday outside Atlantic City’s newest tourist attraction: Margaritaville. The $35 million, 40,000-square-foot complex houses two restaurants, multiple bars, a beach-themed casino, and several breezy, laid-back retail stores—all tucked away in a larger gambling mecca called Resorts. The singer and songwriter of the eponymous song was conspicuously absent from the festivities. For Jimmy Buffett, the grand opening was no special occasion: The Atlantic City outpost is the 27th Margaritaville in the world.

Margaritaville Enterprises, founded in 2006 and based in Orlando, sells everything from beachwear to furniture and also oversees at least one Caribbean island resort, two American resorts, and four casinos. You can buy Margaritaville rum and combine it with a Margaritaville drink mixer in your very own Margaritaville blender that costs $349.99. According to the Orlando Business Journal, the company brought in at least $100 million in revenue in 2007. As a private company, Margaritaville doesn’t release information about its holdings, but by all accounts it has only expanded since then.

As a recording, Margaritaville doesn’t post stratospheric numbers. After debuting on Buffett’s 1977 album Changes in Latitude, Changes in Attitude, it peaked at No. 8 on the Billboard 100 charts. According to the 2012 BBC documentary The Richest Songs in the World, Margaritaville doesn’t crack the top 10, which is populated by three Christmas songs. The two highest-ranking pop songs are You’ve Lost That Loving Feeling, by the Righteous Brothers, and Yesterday, by the Beatles. (No. 1 was Happy Birthday to You.) “If you want to get technical, there are two Margaritavilles,” says Brauneis. “There’s the copyright that protects the song, which is valuable because of the stream of income. Then there’s the trademark that has developed out of the song’s title, and legally that’s a different piece of intellectual property.”



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