Concord and Bicycle Music Merge, Raise $100 Million and Acquires Vanguard, Sugar Hill Records
Concord Music Group has acquired independent record labels Vanguard and Sugar Hill from the Welk Music Group.
The acquisition follows the recent merger of Concord Music Group and The Bicycle Music Company, an independent music publisher, record label and rights manager, under the moniker Concord Bicycle Music. The new company has raised $100 million of additional capital to fund further growth through continued music rights acquisitions and artist development investments.
With deep roots in bluegrass, folk, country and Americana, Nashville-based Sugar Hill Records' roster features Sarah Jarosz, Lee Ann Womack, Liz Longley, Corey Smith, Kasey Chambers, Sam Bush, moe., Bryan Sutton and Black Prairie. Founded in 1947, Vanguard Records;' roster includes Indigo Girls, Chris Isaak, John Butler Trio, John Fogerty, Andrew McMahon in the Wilderness, Matt Nathanson, O.A.R., Barenaked Ladies, Sallie Ford, Marc Broussard, Jerry Lee Lewis and Trevor Hall.
Welk Music Group President Kevin Welk will remain engaged with Vanguard and Sugar Hill as Chief Creative for the labels.
In Los Angeles, Vanguard’s operations and label team will be merged under Concord’s Fantasy Label Group. Dan Sell, General Manager of Vanguard prior to the acquisition, will continue to lead the label’s operations as Vanguard’s Chief Operating Officer.
In Nashville, Sugar Hill’s operations and label team will be merged under Concord’s Rounder Label Group. Cliff O’Sullivan, General Manager of Sugar Hill prior to the acquisition, will be the label group’s Chief Operating Officer.