Bord Gáis Energy has signed a new six-and-a-half-year partnership deal with operator Live Nation, which will see Dublin's Grand Canal Theatre rebranded from 7 March 2012.

The venue will be called the Bord Gáis Energy Theatre as part of the deal, while other terms include the provision of complimentary and discounted tickets to Bord Gáis customers.

Commercial targets relating to its investment in the theatre will see Bord Gáis generate more than EUR4.5m (£3.9m) worth of media value through ticket branding and theatre advertising materials.

The energy supplier also aims to improve customer retention through a rewards programme, while also offering incremental revenues as dual fuel energy supplier to Live Nation sites.

Bord Gáis chief executive officer John Mullins said: "This is an exciting partnership that will deliver a range of unique benefits to Bord Gáis Energy customers and their families.

"Our decision to agree this partnership was based on a solid business case that delivers customer benefits from year one and yields a positive return on investment over the lifetime of the deal."

The 2,100-seat Grand Canal Theatre was designed by Daniel Libeskind and opened in March 2010.