Mavin Records reportedly exploring investment, sale options
Mavin Records, one of Nigeria and Africa’s prominent record labels, is reportedly open to external investment or an outright sale.
Various investment companies and major record labels, with Universal Music Group (UMG) and HYBE at the forefront, have expressed interest in acquiring a portion of the label or purchasing it outright.
The investment and sale are valued at around $125 million, with the possibility of the figure rising to $150 million or $200 million.
Mavin Records has already entered collaborative agreements with international entities, with Virgin Music, an independent distribution company under UMG, handling the distribution of Rema’s music in the United States.
The label, founded by Nigerian music executive Don Jazzy after disbanding his previous label, Mohit Records, boasts an extensive catalog featuring artists such as Wande Coal, Tiwa Savage, Reekado Banks, Korede Bello, Di’ja, Rema, Ayra Starr, Johnny Drille, Ladipoe, Boy Spyce, Bayyani, and the recently signed Lifesize Teddy.
The potential sale of Mavin Records has been a topic of discussion, and Don Jazzy has indicated his openness to such a move if the right offer comes along.
He has also stated his intention to remain actively involved in running the label should a sale occur.
