Global investment firm KKR and global music company BMG said on Tuesday that they had acquired the entire music interests of American Blues Rock legends, ZZ Top.
The agreement includes a buyout of the band’s publishing catalogue and their income from recorded royalties and performance royalties, the companies said.
ZZ Top have sold more than 50 million albums worldwide and have earned four Gold, three Platinum, two multiple-Platinum album certifications as well as one Diamond record.
“We are proud to continue working with and expand our long-standing relationship with BMG. This new deal ensures ZZ Top’s remarkable legacy will endure for generations to come,” ZZ Top manager Carl Stubner of Shelter Music Group said in a statement.
“This deal is a testament to the success, staying power and continuing musical relevance of ZZ Top, but also to the power of our partnership with KKR. This agreement furthers our vision of providing artists and songwriters not just a financial exit, but also a vehicle committed to respecting and treasuring their artistry,” BMG’s Chief Executive Officer Hartwig Masuch said.
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