Chrysalis bought in £107.4 million deal

Music publisher Chrysalis has accepted a joint cash offer from Kohlberg Kravis Roberts (KKR) and German media group Bertelsmann in a deal that values the British company at £107.4 million.


Music publisher Chrysalis has accepted a joint cash offer from Kohlberg Kravis Roberts (KKR) and German media group Bertelsmann in a deal that values the British company at £107.4 million.

Music publisher Chrysalis has accepted a joint cash offer from Kohlberg Kravis Roberts (KKR) and German media group Bertelsmann in a deal that values the British company at £107.4 million.

Shareholders in Chrysalis, which owns the rights to music by Blondie, David Bowie and Elvis Presley, will receive 160 pence in cash for each share held – a premium of 45.5 per cent to the closing price on October 29 this year.

BMG Luxco, a joint venture by KKR and Bertelsmann, will acquire the music company.

BMG chief executive officer Hartwig Masuch says: ‘The acquisition of Chrysalis represents an important step forward in our strategy as we build a major, global music rights business.’

Based in London, Chrysalis specialises in music publishing, copyright ownership, artist management and entertainment product distribution.

Chris Wright, chairman and co-founder of Chrysalis, said: ‘The deal marks the end of one era and the start of another for Chrysalis, a company which has been at the heart of the music industry since I founded it jointly with my original partner, Terry Ellis, more than four decades ago.’

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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