Universal Music Group (UMG), the world's leading music company, announced today a significant investment in Mavin Global (Mavin), one of Africa's most dynamic and influential independent record labels. The deal, subject to regulatory approval, is expected to close by the end of the third quarter of 2024.
This partnership strengthens Mavin's position as a powerhouse for African music, leveraging UMG's global network of labels and expertise. Mavin will retain autonomy over its creative strategy and talent development, ensuring the label's distinct identity and vision continue to flourish.
"We are incredibly proud of the artists, careers, and brand we've built at Mavin," said Mavin Global founder and CEO Michael Collins Ajereh, known professionally as Don Jazzy. "This historic partnership with UMG allows us to further amplify our mission across Africa and globally."
Don Jazzy and Mavin Global COO Tega Oghenejobo will continue leading the company, providing UMG with valuable insight and expertise in the African music industry. Additionally, Kupanda Capital will remain a minority investor and strategic advisor, while TPG Growth exits the business.
"Mavin's talented artists have played a pivotal role in the global rise of Afrobeats," said Sir Lucian Grainge, Chairman & CEO of Universal Music Group. "We are thrilled to welcome them to the UMG family and look forward to collaborating with Don Jazzy, Tega, and the entire Mavin team to achieve even greater success together."
This strategic investment reaffirms UMG's commitment to supporting and amplifying diverse voices and genres, further solidifying its position as a leader in the global music industry.
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