Black Coffee acquires a stake in Gallo Music Investments.
Talk about serious money moves. Internationally renowned Mzansi Disc Jockey and producer, Black Coffee has acquired a stake in Gallo Music Investments. TimesLIVE reports that the acquisition was made through his company, FlightMode Digital.
GMI was previously purchased by Lebashe Group from its former owners, Tiso Blackstar in March of this year. TimesLIVE reports that it “was bundled in the news and entertainment business of Arena Holdings”.
The value of Black Coffee’s recent investment was not disclosed. However, Lebashe Chair, Tsheo Mahloele called it a “coup”, and said it “will usher in a new era for the SA music business on a global scale”.
In further comments, he said;
We are delighted that SA’s most extensive musical archives reside within Arena Holdings, and it is our intention to explore and reintroduce these amazing classical archives to our mainstream market, locally and globally
Black Coffee, speaking on the acquisition, called it the first of many moves to change the scape of the music industry (in SA and the Continent). He said,
The music in the Gallo catalogue is some of the most culturally rich that has ever been created in this country. The partnership with Lebashe to invest in the catalogue, and masters, is more than just a business transaction — it’s about creating an environment in which artists and creatives have a truly equitable stake
Rob Cowling from Gallo had this to say,
This also announces our presence in the market that Gallo is a force to be reckoned with. He [Black Coffee] has such a global appeal, we hope this opens possibilities for us going forward