Marc Anthony has formed a new alliance…
The 55-year-old Puerto Rican singer, songwriter, actor and entrepreneur and Sam Nazarian, founder/CEO of lifestyle and hospitality company SBE Entertainment Group, have announced a “landmark alliance” that marks the first hospitality venture for the salsa superstar and his entertainment company, Magnus.
Through the deal, Anthony and Magnus are now equity partners in all of SBE’s existing properties, which include culinary brands, restaurants, lounges and nightclubs.
According to a press release, SBE’s new multi-vertical business strategy will focus on growing the brand among Latin American audiences.
Additionally, new properties will also be launched in the hospitality space and additional brands will be created together. The alliance also opens new opportunities for Magnus’ roster (record label, management and booking), which includes Luis Figueroa, Mau y Ricky, Fonseca and Gente de Zona.
Aside from his decades-long music career, Anthony is a multi-hyphenate businessman who launched Magnus in 2015 to represent both Latin artists and athletes in the United States. In 2009, he became a minority owner of the Miami Dolphins, and last December, launched the electric powerboating team, E1 Team Miami.
In 2012, his work in philanthropy led him to launch the Maestro Cares Foundation, which has built orphanages in various countries in Latin America and the Caribbean.
“It would be an understatement to say that this announcement today is one of the greatest highlights of all of the endeavors I’ve taken on in my life,” Anthony said in a statement. “To have the honor to join forces with my great friend Sam and SBE, is something we have spoken about throughout the years and the time has finally come. My team, alongside the unparalleled expertise of SBE, is poised to contribute significantly to the success of this new journey. With a shared commitment to excellence and a track record of unparalleled vision and execution, we are excited to bring our best-in-class capabilities to elevate SBE’s projects to new heights. Together, we look forward to unveiling a series of remarkable initiatives that showcase the synergy and excellence synonymous with the SBE family.”
“It’s an honor to join forces with long-time friend and international superstar Marc Anthony. I have a tremendous amount of admiration for the career that he has built, and, more importantly, his entrepreneurial instinct,” added Nazarian, who founded SBE in 2002. “It’s been an aspiration of ours to come together to build something special, and I am excited to share all the amazing things we are working on with him as our strategic partner. My sbe team is honored to collaborate with the best-in-class entrepreneurial team Marc has built at Magnus, led by a dynamic team, CEO Michel Vega and COO Felipe Pimiento, to connect with and deliver experiences to an audience that Marc has so carefully cultivated throughout his career. This is just the beginning, and I can’t wait to see what we build together.”