Liverpool’s world-famous Cavern Club has entered a new era after Cavern City Tours Limited welcomed 14 Collective as its new owner.
The deal sees 14 Collective take ownership of the company behind the legendary Cavern Club, as well as the Cavern Pub, Cavern Restaurant and Magical Mystery Tour.
Best known around the world for its connection to The Beatles, the Cavern Club has been at the heart of Liverpool’s music scene since 1957.
Today, the Mathew Street venue welcomes more than one million visitors every year and remains one of the city’s most recognisable cultural and tourism attractions.
14 Collective brings together a portfolio of distinctive cultural experiences across Europe and says it intends to build on the Cavern’s long tradition of live music while continuing to support emerging artists.
Liverpool-born Keith Blackhurst will join the board of Cavern City Tours alongside 14 Collective CEO Roderik Schlosser. Both have extensive backgrounds in the music and live entertainment industries.
The change of ownership marks the end of an era for Bill Heckle, Dave Jones, George Guinness and Julia Baird, who have played a major role in developing the Cavern and Beatles tourism in Liverpool over recent decades.
During their stewardship, the business introduced the Magical Mystery Tour and International Beatleweek, helping attract Beatles fans from across the globe to the city.
Reflecting on the handover, Bill Heckle said:
“It is an emotional day, but a proud day, for the four Scouse owners. It was never about putting Cavern City Tours up for sale to the highest bidder and it has taken over five years to find a suitable and like-minded custodian.
“The decision to hand over the reins was not taken lightly, but with all of the shareholders being of advancing years, it was time for retirement.
“However, we leave with the confidence that the new owners will continue to follow the path we have forged over the last 43 years of Cavern City Tours, including 35 years owning The Cavern, and that this iconic piece of music history will continue to be a pivotal and important element in both Liverpool’s economy and its tourism industry, welcoming fans and visitors from all over the world.”
Julia Baird, John Lennon’s sister, added:
“We are leaving The Cavern Club as its owners today. I am feeling both sad for me personally, yet positive for the future of this world famous, number one music club.
“The club that gave birth to The Beatles. We leave it in good hands, in good faith. We are passing on the baton to further its spectacular story. Long live The Cavern Club!”
Keith Blackhurst and Roderik Schlosser said:
“We are delighted to be entrusted with the legacy of the Cavern Club and its related businesses in Keith’s home city of Liverpool.
“The Cavern, which played such an extraordinary role in the story of The Beatles, is an iconic part of Liverpool’s vibrant culture.
“We look forward to working alongside the existing management team, with a real appreciation for what makes the Cavern so special and excitement about what comes next.”
DTB Business Solutions, supported by Langtons Accountants and Brabners, advised the existing owners on the transaction.
Debbie Thompson of DTB Business Solutions said:
“I’ve known Bill and his team at the Cavern for 30 years and have watched the venture go from strength to strength.
“It has been a pleasure to find the right fit for the future for everyone involved. Bill, Dave, George and Julia have looked after the Cavern Club for such a long time, it’s now fitting that the Cavern Club looks after them in their retirement.”
CMS provided legal advice to 14 Collective.
More information is available from the Cavern Club website.
