Ministry snaps up GMG's Hed Kandi and Enterprise Records

by Sam Matthews, Brand Republic 27-Jan-06, 15:25

LONDON - Ministry of Sound has bought dance record label Hed Kandi and the Enterprise Records division of Smooth FM from the Guardian Media Group Radio division.

The acquisition, for an undisclosed sum, includes all associated labels of the GMG Radio Records division including One Two Records.

Hed Kandi is best known for its dance music compilations ranging from chillout to funky house, US garage to hip hop and jazz groove. Hed Kandi has a monthly residency at Pacha nightclub in Victoria.

Lohan Presencer, managing director of Ministry of Sound Recordings, said: "We look forward to preserving Hed Kandi's core values while helping to build the business still further.

"We are very excited at the prospect of bringing our two businesses together. Hed Kandi is a brilliant brand with great integrity, built very skilfully by the team over many years.

John Myers, chief executive of GMG Radio, said Hed Kandi was sold so the group can concentrate on developing its radio portfolio, which includes Smooth FM, formerly known as Jazz FM.

"Hed Kandi is a great brand but it is clear to us that it needs to be part of a much larger and experienced record business and this sale will now allow our team to focus on the development of our radio portfolio, which is expected to see significant development over the coming months," he said.

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