Live Nation Entertainment confirmed today that they have acquired a majority stake in BottleRock Napa Valley Music Festival, the annual festival slated for May 26-28 this year featuring Foo Fighters, Tom Petty & the Heartbreakers and Maroon 5.

The addition further bolsters Live Nation’s festival portfolio, which includes the likes of Austin City Limits, Bonnaroo, Lollapalooza, Governor’s Ball, Rock Werchter and many others, totaling more than 80 festivals in total around the world.

BottleRock will remain under the leadership of festival producer Latitude 38 Entertainment, whose founders will continue to be significant shareholders and owners of the festival.