Billboard reports Concord has acquired Victory Records. The Chicago-based independent record label founded by Tony Brummel in 1989 is known to have broken emo and punk bands such as Taking Back Sunday, Bayside, Thursday, Silverstein and have also expanded their roster over the years to include bands ranging from Cro-Mags to Jungle Rot. Concord has also acquired Brummel’s Another Victory Publishing catalog. The acquisition includes 4,500 masters and 3,500 compositions.

Terms of the deal weren’t disclosed. However, Billboard has estimated that Concord paid somewhere between $27 million -$34 million for the Victory Company, which includes the entire catalog, name and Bulldog logo.  

Concord’s chief business development officer Steve Salm mentioned the following in a statement:

“Concord is a market leader across rock genres in both new releases and catalog. Tony’s dedication to Victory and the development of talent within these rock genres of metal, emo and hardcore as a true independent operator is incredibly admirable and he’s made a very significant impact in that world.”

He added:

“Concord very much look forward to being the next creative managers of the Victory masters and publishing catalogs as well as insuring all of the artists that have been part of Victory feel very much at home at Concord. Our entire Concord creative team will engage in conversations with the active rosters of [Victory] writers and recording artists.”

Brummel said the following in a statement:

“Concord has a great team, infrastructure and the financial backing and support to do great things with the music and entertainment assets that they represent. Victory and Another Victory’s great catalog of music and songs will be in caring and fantastic hands going forward. We’ve had a great run and with Concord it will only continue.”

Billboard also addresses that Victory’s entire staff will remain employed by Brummel:

“Meanwhile, Victory’s 30-person staff will remain employed by Brummel, who sources say has a “limited” non-compete clause that will allow him to pursue opportunities in the music business going forward, if he so chooses. The staff will work on Brummel’s other businesses which includes a third-party merch business, plus some real estate and other investments. Also, they will be involved in assisting with on-boarding Victory’s catalog and royalty payments onto Concord’s platform over the next few months.”