London-based One Little Indian has teamed up with fellow U.K. indie FatCat Records in a joint venture deal.

FatCat's "strong independent ethos" will be consolidated within the partnership according to a statement issued by One Little Indian, whose current roster boasts Bjork, Alabama 3, Jesse Malin, Land of Talk and Asobi Seksu.

The Brighton-based FatCat label discovered artists including Sigur Ros and Animal Collective. Its current roster includes Nina Nastasia, The Twilight Sad, Frightened Rabbit and Vetiver.

The partnership will share the overhead costs of non-competitive resources, including warehousing, domestic and international physical and digital distribution, manufacturing, business affairs, marketing and promotion, according to Derek Birkett and Alex Knight, the owners of One Little Indian and FatCat, respectively.

One Little Indian's in-house press team will now work the latest crop of FatCat releases, alongside music from the main label and sub-label Tangled Up!.

All creative and A&R functions are run completely separately from their respective offices. "Both companies are contributing equally and benefiting equally from the arrangement. It is an equal partnership in every sense of the word, so there is no senior partner," says Birkett.

The two labels worked together 11 years ago when the FatCat record shop in London's Covent Garden closed. One Little Indian provided assistance, including office space, so that it could relaunch as a record label.

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