The Cavern Club, one of Liverpool’s most recognisable cultural landmarks, has a new owner after a five-year search for a custodian to take its music and tourism business into its next chapter.
14 Collective has acquired Cavern City Tours Limited, the company behind the legendary venue, alongside the Cavern Pub, Cavern Restaurant and Magical Mystery Tour.
The change of ownership brings together a Liverpool institution welcoming more than one million visitors a year from around the world and a group focused on distinctive cultural experiences across Europe.
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Liverpool-born Keith Blackhurst will join the board of Cavern City Tours alongside 14 Collective CEO Roderik Schlosser. Both have longstanding experience in music and live entertainment.
The group intends to build on the Cavern’s tradition of live music and supporting upcoming artists, working alongside the existing management team.
At the heart of the deal is a business whose identity extends well beyond its venue. Closely associated with the rise of The Beatles, the Cavern has been part of Liverpool’s music scene since 1957 and remains a destination for international fans.
Outgoing owners Bill Heckle, Dave Jones, George Guinness and Julia Baird have shaped the Cavern over the past 35 years, helping establish Liverpool’s Beatles tourism offer and introducing the Magical Mystery Tour and International Beatleweek.
For the retiring shareholders, finding owners who understood that legacy was central to the decision.
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!”
Blackhurst and 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 advised the existing owners on the transaction, supported by Langtons Accountants and John Spofforth, corporate partner and head of professional services sector at Brabners.
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.
