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Universal Music Group (UMG) buys majority stake in Don Jazzy’s Mavin Global

Universal Music Group (UMG), a global leader in music-based entertainment, has announced a significant investment in Mavin Global (Mavin), an independent record label based in Lagos, Nigeria.

Founded by renowned artist and entrepreneur Michael Collins Ajereh, also known as Don Jazzy, Mavin has been a driving force behind the success of Afrobeats artists across Africa and beyond.

The deal, subject to regulatory approval, is expected to close by the end of Q3 2024, marking a strategic partnership between UMG and Mavin.

Mavin, established in 2012, has rapidly grown into a multi-award-winning label, contributing to the global rise of Afrobeats music.

The genre’s increasing popularity led to the launch of Billboard’s U.S. Afrobeats Songs Chart in 2022, with Mavin artist Rema’s track “Calm Down” featuring Selena Gomez reaching the #1 spot.

Home to accomplished artists such as Ayra Starr, Ladipoe, Johnny Drille, Crayon, and Rema, Mavin has achieved remarkable success in the music industry.

Rema’s “Calm Down” became the biggest Afrobeats song of all time, surpassing 1 billion Spotify streams and topping the U.S. Billboard Hot 100 chart.

The partnership with UMG will amplify Mavin’s global presence, leveraging UMG’s extensive network of labels and businesses.

Mavin’s full-service offerings in Nigeria will benefit from integration with UMG’s distribution channels and partnerships, including Republic and Interscope.

Under the agreement, Don Jazzy and COO Tega Oghenejobo will continue to lead Mavin, ensuring the label maintains its autonomy and strategic direction.

The collaboration aims to foster talent development, expand Mavin’s roster, and advance its mission to become a pan-African entertainment powerhouse.

UMG Chairman & CEO Sir Lucian Grainge expressed enthusiasm for the partnership, citing Mavin’s track record of success and innovation.

The investment reflects UMG’s commitment to supporting diverse music entrepreneurs and artists worldwide.

The transaction sees TPG fully exiting the business, while Kupanda Capital will remain a minority investor and strategic adviser.

Legal advisory for UMG was provided by Freshfields, Udo Udoma & Belo-Osagie, and Bowmans, while Shot Tower Capital represented Mavin in the transaction.

The collaboration between UMG and Mavin signals a new chapter in the evolution of Afrobeats music, promising to elevate African talent on the global stage and drive continued growth in the music industry.

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