KAABOO Acquired by Virgin Fest Boss Jason Felts

It's in its fifth year -- but it just became a Virgin again.

KAABOO has been acquired by the music festival arm of the Virgin brand, owned by Richard Branson.

Virgin Fest founder and CEO Jason Felts, who formerly served as a Partner and Chief Brand Officer at KAABOO, snapped up all of the assets belonging to the San Diego-based live event.

Born in 2015 with the flagship KAABOO Del Mar, hosted at the iconic fairgrounds, the music, comedy, culinary and arts festival has since spread to the Cayman Islands and Texas.

The timing of the takeover coincides with the fifth sold out weekend in San Diego, headlined by Snoop Dogg, Wu-Tang Clan, Kings of Leon, Mumford and Sons, The Black Eyed Peas and Duran Duran.

This weekend was also the festival's last at the Del Mar Fairgrounds, as it gets set to move to a new home of Petco Park in downtown San Diego.

"I attended the first KAABOO Del Mar in 2015 with my parents," said Felts. "Given it was KAABOO's inaugural year, the attendance was low, however it became very clear to me that the vision was truly unique.

"It also became clear that KAABOO shared a like-minded approach to Virgin with customer service, while delivering a unique, differentiated, multi-sensory festival product."

Taking over from original founders Bryan Gordon and Seth Wolkov, Felts confirmed that the KAABOO branding will remain in place.

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