Universal Music Group has agreed terms to acquire the group of Finnish rock and pop music companies Johanna Kustannus, Love Music Publishing and Siboney.
The deal also includes the recorded music catalog of Love Records, a label that operated from 1966 to 1979 and released artists such as Wigwam, Agit-Prop and Tabula Rasa.
Love Music Publishing was founded in 1976 in connection with the recorded music company, and it also publishes film soundtracks and songs in the schlager genre.
UMG already had a distribution deal with Siboney, which has released more than 200 albums from the Love Records catalog under the Love imprint, and Johanna Kustannus, the label described as a “continuation” of the Love Records legacy. Johanna Kustannus releases around 12 domestic artist albums every year and its catalog includes albums by Hanoi Rocks, Pelle Miljoona and the Leningrad Cowboys.
“Our legendary artists and historic back catalog will certainly have a good home, because Universal’s resources will enable Johanna’s and Love’s further development,” said Love Music Publishing CEO Sini Perho in a statement.
Perho will join Universal. Terms for the deal were not disclosed.