DJ Black Coffee Acquires Significant Stake In Gallo Music, South Africa’s Oldest Indie Label
JOHANNESBURG (CelebrityAccess) – Superstar South African DJ Black Coffee has acquired a significant stake in Gallo Music Investments (GMI), South Africa’s largest and oldest independent label.
The deal was announced Wednesday by Black Coffee’s investment holding company, FlightMode Digital, which was estbalished in 2017 and has equity stakes in some of Africa’s top startups including Yoco, Andela, Sweep South and Rensource. He acquired the stake in GMI from Lebashe Investment Group for an undisclosed sum.
GMI was purchased by Lebashe from Tiso Blackstar for R75 million (approximately $4.3m) in March and was incorporated into news and entertainment business Arena Holdings, which is 100 percent owned by Lebashe.
Lebashe Chairman Tshepo Mahloele said: “We are delighted that South…