German giant buys Alberts, label of AC/DC and The Easybeats

Australia’s oldest independent music company sold to multinational BMG for undisclosed sum after 131 years in industry.

Angus Young, AC/DC guitarist, with Axl Rose of Guns N’ Roses.

It formed the backbone of ­Australian rock and pop in its fledgling years in the 1960s and launched some of our biggest stars, but yesterday Alberts, Australia’s oldest independent music company, ended 131 years in the industry when it was sold to multinational German giant BMG for an undisclosed sum.

J. Albert and Son, also known as Alberts, and its recording label Albert Productions were responsible for the careers of some of Australia’s best known acts, including the Easybeats, AC/DC, Billy Thorpe and the Aztecs and John Paul Young.

As a label and­ publishing house, it had on its roster contemporary acts such as Josh Pyke, Montaigne and ­Urthboy.

Yesterday, Alberts chief executive David Albert told The Australian the family had decided to sell the business because of changes in technology and ­advances in digital distribution in the music industry in recent years.

Mr Albert said he had mixed emotions about the end of the Alberts brand. “Obviously it has been part of our family for such a long time,” he said.

“It’s a decision the family have made together and which we have thought through in great detail. We feel positive about it because we believe it is the best way forward for the company.”

The deal signals the end of one of the country’s most iconic and ­enduring music companies, launched by Swiss immigrant Jacques Albert in 1885 and operated through generations of the Sydney-based Albert family to the present day.

The Albert family will maintain control of Alberts’ biggest asset, the recording catalogue of AC/DC, as well as those of former Easybeats Harry Vanda, George Young and Stevie Wright, while BMG will administer publishing catalogues worldwide on behalf of the family.

“We are holding on to some key assets, which are our closest links to the music business,” ­Mr Albert said.

Heath Johns, head of BMG Australia, which opened for business only in March, said acquisition of Alberts was a great coup for BMG. “We are incredibly ­excited and honoured that the ­Albert family chose to do a deal with BMG,” he said.

“The Alberts legacy is the most iconic in Australian music. Growing up in the Australian music industry, it was always a company that I respected. The responsibility ... is not taken lightly.”

The deal is effective immediately and some job losses are expected among Alberts employees as a result of the sale.