Don Jazzy Calls On Investors As He Reportedly Plans To Sell Mavin Records For $200m

Nigerian music mogul, Don Jazzy is reportedly exploring potential sale or investment in Mavin Records, with major entities such as Universal Music Group (UMG) and HYBE submitting bids.

Billboard reported on Friday that the valuation of this deal is estimated to range between $125 million and $200 million. The negotiation process is being facilitated by an independent investment bank, Shot Tower Capital.

The move is seen as a strategic effort by Mavin Records to secure funds for expansion, anticipating the burgeoning global prominence of the African music industry in the coming years.

Regardless of the outcome, Billboard emphasized that Don Jazzy is expected to maintain control over the future direction of the company.

The report stated, “Mavin Records, the hot Nigerian label that’s home to Rema and Ayra Starr, is seeking investment or eying a potential full sale with bidding coming from the Universal Music Group, HYBE and strong interest from music asset investors in the financial sector, according to sources.

“Mavin’s valuation in the proposed deal is above $125 million and could be worth $150 million to $200 million, according to those sources. Sources further say that Shot Tower Capital is shopping the deal.

“The move is expected to raise funding to help position the label for more growth. The African continent is anticipated to be the next geographical repertoire to have a commanding presence on the global stage, similar to how Latin and K-pop have had an impact on the international marketplace in recent years.

“Even if the investment comes from a strategic investor like UMG or HYBE — or results in another label or music company taking a stake in Mavin or even buying the African music company outright — the Mavin management team, led by legendary Nigerian music business executive Don Jazzy, is expected to remain in place and retain some form of control over its destiny.”

At the time of reporting, the companies involved had either declined to comment or had not responded to requests for comments, and Don Jazzy had not provided a statement.

KanyiDaily recalls that in 2019, Don Jazzy unveiled a new multi-million creative studios for Mavin Records to mark his birthday.