Sony Music Entertainment's merchandising division, The Thread Shop, has acquired the music merchandise department of The Araca Group.
Araca is a full-service theatrical production and entertainment merchandising company. The firm's portfolio includes a music merchandising roster of artists such as Led Zeppelin, P!NK, Shania Twain, Sugarland and Zayn.
As part of the acquisition, several members of Araca's music merchandising team will join The Thread Shop. Araca team members will be responsible for nurturing active company relationships and developing new opportunities for the integrated roster.
"We are thrilled at the opportunity this acquisition provides for our music merchandise division," says Michael Rego, chief executive officer, The Araca Group. "The team at The Thread Shop is artist-focused, passionate and well-positioned to build upon the merchandising programs that Araca has created for our music clients."
The purchase significantly expands the reach of Sony Music's in-house merchandising business and further enhances the suite of services and solutions that it offers to the artist community.