Superstruct Losses Widen to €111.3M After Festival Boycotts; Adds €109M Debt

Superstruct, one of Europe's largest music-festival organizers, reported widening losses and rising debt after pro-Palestine boycotts disrupted its events. The company raised €109 million in additional debt in the year to December 2025, lifting total borrowings to €392.5 million, while losses grew from €77.6 million to €111.3 million, accounts showed. KKR acquired Superstruct in October 2024, and campaigners have called for boycotts since 2025 over KKR's investments in businesses with ties to Israel. More than 80 artists signed an open letter opposing affiliations with entities "complicit in war crimes." Festivals including Sónar Barcelona, Field Day and Victorious Festival faced boycotts. Directors said the added debt funds future festival acquisitions despite the boycotts. Sales rose 4.4% to €825 million. Superstruct said it remains within its covenants. KKR, Carlyle and CVC declined to comment.