Update: American investor behind Elvis Presley estate reportedly takes majority stake in Romania’s Bran Castle operator
Update: Bran Castle will remain under the ownership of the Habsburg family, according to a statement quoted by Tvrinfo.ro. The family announced that it has entered into a partnership with American businessman Joel Weinshanker, who joins as a strategic partner.
According to the statement, the partnership will focus on attracting more visitors to the castle and the surrounding region, particularly tourists from Western Europe and the United States.
Initial story: American businessman Joel Weinshanker, known for managing the legacy and commercial operations linked to Elvis Presley, has acquired the majority stake in the company operating the famous Bran Castle, according to documents reviewed by Profit.ro. The transaction gives Weinshanker control over the management company overseeing one of Romania’s most visited tourist attractions.
Located near Brașov, Bran Castle is one of Romania’s best-known landmarks and is internationally associated with the Dracula legend.
Joel Weinshanker controls Ad Populum, a US-based entertainment and collectibles conglomerate that has expanded rapidly in recent years through acquisitions in the lifestyle, gaming, memorabilia, and entertainment sectors.
According to Profit.ro, the newly established company VT Bran, founded by an American company from the Ad Populum group, acquired 80% of the shares in CADB, the company operating Bran Castle. The remaining shares are held by members of the Habsburg family and related heirs, including Dominic Habsburg-Lothringen. Following the transaction, Bran Capital Beteiligungs exited the shareholder structure.
The report states that management of CADB has been taken over by Steven Bieg, chief financial officer of Ad Populum, and a superficies agreement was concluded with the heirs of Bran Castle, who remain co-owners of the property.
Representatives of Ad Populum did not respond to Profit.ro’s requests for comment regarding their operational strategy for Bran Castle before publication of the report.
irina.marica@romania-insider.com
(Photo source: Trifuion/Dreamstime.com)
