A statement on ownership

Dear friend of Milkshake, 

Please take the time to read this statement on the ownership of Milkshake Festival, as it explains our stance as an organization on the acquisition of our parent company, Superstruct Entertainment, by KKR. 

Milkshake Festival is an open-minded electronic dance festival for all who love. Since 2012, our festival takes place in the city center of Amsterdam, celebrating radical freedom, love and acceptance. Our intention is to create and give a platform to artists and performance artists that belong to (or support) underrepresented communities in our society. To us, life is a party thanks to the great diversity of skin colors, body shapes, sexual preferences and gender identities. Our core values are kindness, transparency, and accountability.

Timeline of ownership

2012: Milkshake is founded by AIR Events & Stichting Paradiso Amsterdam.

2015: AIR Events plus its majority stake in Milkshake is sold to ID&T, then part of SFX Entertainment.

2021: SFX, including ID&T and AIR Events (plus the majority stake in Milkshake) is sold to Superstruct Entertainment, which is backed by Providence Equity Partners.

2024: Paradiso sells its remaining stake in Milkshake Festival to Superstruct Entertainment, making Superstruct Entertainment 100% owner.

2024: Providence Equity Partners sells Superstruct to KKR. 

Throughout these changes, Milkshake Festival has consistently remained under the stewardship of the same dedicated team, with an unwavering commitment to its founding values. This team was in no way involved in the above ownership changes. 

However, we now find ourselves caught up in something that absolutely does not align with our values as an organization. In the past couple of months, we have learned a lot about KKR’s unethical investment practices. Especially, it’s investments in corporations that profit from the ongoing warfare in Gaza.

Several highly experienced institutions such as Amnesty International, Human Rights Watch, and even the world’s highest court, the International Court of Justice, have stated that the Israeli army is plausibly committing war crimes and even genocide in Gaza. The rest of the world is witness to these atrocities on a daily basis. 

We might not have control over agreements or investments made in our parent companies. But we can clearly state our opposition to KKR’s unethical investments. And we hereby, unequivocally, do so. 

Milkshake will always stand with her audience, and will always speak up in the face of injustice. We will always use our platform to uplift all the brilliant artists from our most cherished communities. We never stop working with LGBTQ+ organizations and charities. 

We recognize that there are many humanitarian crises taking place currently, and that the war in Gaza is one of them. Us choosing to speak up about KKR’s investments in complicit Israeli corporations does not mean we do not also acknowledge the suffering of other victims in ongoing wars. 

We want to thank those of you who have reached out to us directly to voice their concerns. Friends of the festival, activists, and artists who are working with us through this challenging period. 

For All Who Love. 

Update May 22th:

Together with our fellow festivals, we have expressed our dissatisfaction about KKR to Superstruct. This has led to the following commitment:

All profits from Milkshake Festival, and other festivals within Superstruct, will not flow to our investors, including KKR. Instead, all profits will be used to support the development of these festivals. We are working on the practical implementation of this commitment.

Read the statement from Superstruct Entertainment here: https://www.superstruct.com/statement

Update June 3rd:

The following update is the result of our meetings with Superstruct Entertainment. Over the last couple of days, we have spent time discussing Milkshake festival, her goals and intention, and our need for transparency on different levels. Inspired by companies with a social mission and matching structure, like Ben & Jerry's for example, we’ve come to the following conclusion:                                  

We have decided to establish a unique governance and accountability structure for Milkshake BV. These changes are in strong recognition of the importance of protecting safer spaces in a world where they are increasingly challenged, and aims to secure the long-term success of Milkshake as a community platform. Together with Superstruct, we have decided the following for at least the next three years:                                                          

1. A new board seat will be added to Milkshake BV. This non-executive seat will be appointed by the For All Who Love Foundation. This legal representation formalizes and honors the existing deep connections between the festival and her stakeholders. The board member will focus on strategic decision-making of the festival, trust, and community participation.

2. A new steering committee, formed by and within For All Who Love Foundation, will safeguard the mission of the festival by ensuring that representatives such as visitors, artists, stage hosts, and other important stakeholders are engaged in the organizational cycle. In this way, the festival will continue to reflect and amplify the values of those who participate. Members of the steering committee will be paid for their time participating in the project.
                                                                         

3. Milkshake festival commits to ensuring a yearly funding of €36.000 for the For All Who Love Foundation. The money raised will be used to fund community projects.                                                                                                                                                                        

4. As publicly stated by Superstruct, all revenue and profits from events and festivals remains entirely within the business.                                                                                                                                            

Milkshake, For All Who Love Foundation and Superstruct will work together to continuously develop the governance structure and will have an open dialogue about what is best for the festival. All parties agree that securing the future of Milkshake as a safer space for many is urgent and necessary. Together with the new board member and steering committee, they will evaluate all necessary options to reach this goal. Such as, for example, closer collaboration with human rights organizations, a transfer of the festival license, and a dedicated focus on sustainability and ecological footprint of the event. 

Note:                                               

 ●  The governance changes are approved by Superstruct Entertainment, ID&T Holding and For All Who Love Foundation and will be implemented over the coming weeks. The changes are implemented for an initial period covering the forthcoming three editions of Milkshake Festival (June 2025 – October 2027) 

●  For All Who Love Foundation (since 2017) is a non-profit organization which has the purpose to create more tolerance and acceptance for people who are different from the ideal image of society. They are committed to creating more courtesy and love for each other and focus on projects for people with disabilities, the LGBTQIA+ community, anti-racism projects and projects supporting the elderly. The foundation currently consists of 5 active board members, who will be tasked with selecting the board member and the steering committee.