Big news in the world of sales.
Independent digital and physical distribution/services company Redeye has been acquired by Exceleration Music for an undisclosed amount.
Redeye represents several of the world’s most significant independent labels in the US and internationally, including Beggars Group, Domino, New West, Yep Roc, Sundazed, Saddle Creek, Mom+Pop, Kemado/Mexican Summer, Stones Throw, Warp, Drag City, Real Gone , Innovative Leisure, Carpark, !K7, Thrill Jockey, Luaka Bop, Partisan, Sargent House, Ninja Tune, Barsuk and Daptone as well as Exceleration’s own labels.
Redeye was founded by Tor Hansen and Glenn Dicker and is headquartered in North Carolina. The team consists of over 120 employees in 15 locations in the USA, Canada, Europe, Great Britain and Australia.
Redeye also maintains what it calls a “robust European distribution operation” in Sweden (acquired through the merger with Border Music in 2019).
The acquisition represents a significant expansion of the company’s operational reach, according to Exceleration, and also includes Redeye’s in-house labels Yep Roc and Sundazed, as well as publishing company Riff City Sounds.
Yep Roc is home to artists such as Nick Lowe, Dave Alvin, Aoife O’Donovan, Alejandro Escovedo, Chuck Prophet and Jobi Riccio. Sundazed is a well-known reissue label in the United States.
As part of the strategic transaction, Redeye founders Glenn Dicker and Tor Hansen have become shareholders of Exceleration Music.
According to Exceleration Music, the acquisition of Redeye marks a “pivotal moment” for the company.
Exceleration was launched in January 2021 by five indie sector executives, backed by what it described as “significant investment capital.”
The music company is still led by its group of original founders, including Glen Barros (former CEO of Concord Music Group), Dave Hansen (executive chairman of Merlin and former GM of Epitaph), Charles Caldas (former CEO of Merlin) and Amy Dietz ( former GM of Ingrooves) and John Burk (GRAMMY-winning producer and former president of Concord Records).
The US-headquartered company says it is funded by investments from all of its partners, as well as institutional and private investors.
Since its inception, Exceleration says it has focused “on investing in the acquisition, production and optimization of music rights.”
These investments have included Bloodshot Records, Kill Rock Stars, Mom+Pop and SideOneDummy, and most recently India-based indie label Azadi Records, which marked Exceleration’s expansion into Asia.
After the Redeye deal, Exceleration Music now consists of two business areas:
- His “Established Rights” group includes so-called “investments and partnerships” with labels and catalogs such as +1 Records, Alligator, Azadi, Bloodshot Records, Candid, Heroic, Kill Rock Stars, Mom+Pop, SideOneDummy and The Ray Charles Foundation/Tangerine Records and now Yep Roc and Sundazed.
- The newly acquired distribution and label services business will continue to operate under the Redeye brand and will be managed by Dicker and Hansen. Exceleration says Redeye’s existing team and infrastructure will be retained.
Key executives at Redeye include Michael Petkov, Head of International; Jason Taylor, head of global sales (physical and digital); Laura Pittard, director of global marketing; Michael Howard, assistant vice president of global operations; Hank Stockard, global business development director; Sean Pecor, IT director; and Jim Separater, Global Accounting Director.
According to a press release, the deal “will provide independent music partners of Exceleration and Redeye with a fully independent and well-resourced route to marketing; includes global physical and digital distribution as well as label, marketing and technical expertise.”
“The addition of Redeye, Yep Roc, Sundazed and Riff City Sounds represents an important expansion of Exceleration’s overall strategy to strengthen the independent community.
Glen Barros, Exceleration Music
“The addition of Redeye, Yep Roc, Sundazed and Riff City Sounds represents an important expansion of Exceleration’s overall strategy to strengthen the independent community,” said Exceleration Music partner Glen Barros.
“Redeye is already providing a great service to an impressive group of premier indie labels looking for a distributor that can service both physical and digital channels on a global basis.
“Together with Glenn, Tor and the Redeye team, we plan to expand Redeye’s already impressive network and work together to help our current and future label partners achieve real success.”
“Working with the Exceleration team feels like expanding the family.”
Glenn Dicker, Redeye
Glenn Dicker, co-founder of Redeye, added: “Working with the Exceleration team feels like expanding the family.
“As we share strong ideals and a strategic vision, it feels like the next natural step in our journey to offer our world-class distribution service to an expanded independent community.”
In January 2020, Beggars Group, one of the world’s largest independent music companies, signed a physical distribution deal in the United States with Redeye. Physical distribution duties for Beggars’ releases and catalog were previously handled in the United States by Warner’s own independent services division, ADA.
The British-born Beggars joined Redeye along with Domino Recording Co. and Saddle Creek from January 1 of the same year.Music business worldwide
https://www.musicbusinessworldwide.com/redeye-distribution-partner-of-beggars-domino-and-other-leading-indie-labels-acquired-by-exceleration-music/ Redeye, distributor of Beggars, Domino and other leading indie labels, has been acquired by Exceleration Music