MUMBAI: Universal Music Group (UMG), has acquired UK-based music merchandising company Atmosphere Apparel, which is founded and owned by Mark Stredwick.
Financial terms of the deal were not disclosed.
Atmosphere holds international merchandising rights for such artists as Metallica, Red Hot Chili Peppers, Bryan Adams, Def Leppard, Rage Against The Machine and Lostprophets. The company will continue as a stand-alone business, headquartered in the UK, and headed by Stredwick. It will tap into UMG’s global distribution reach in 77 countries.
Universal Music Group International chairman and CEO Lucian Grainge said, "Atmosphere is a dynamic, innovative player in music and entertainment merchandising, and we’re very pleased to be in this new partnership with Mark. With plans for investment and growth, Universal Music Group’s deepening commitment to merchandising in both the touring and retail sectors is good news for all artists, brands and entertainers signed to it.”
Atmosphere Apparel managing director Mark Stredwick added, “The acquisition of Atmosphere by a company of the stature of UMG is extremely exciting, and the deal allows us to maintain our reputation as a truly artist-friendly merchandise company, whilst benefiting from the global expertise of UMG’s distribution network.”