Primary Wave Music has acquired a 50% stake in the Brazilian music company Nas Nuvens Catalog, valuing the business at about $100 million and highlighting the booming market for Brazilian music.
Founded a couple of years ago by the private equity firm Starboard Partners and Brazilian music legend Liminha, Nas Nuvens has acquired the catalogs of about 40 artists, including Samba star Arlindo Cruz and Grammy winner Vanessa da Mata. The company has been looking for a partner to help exploit its catalog outside of its home market.
Primary Wave, which has carved out a niche as one of the ...
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