In a major announcement, the principal owners of CMI Music & Audio Pty Ltd, Trojkovic Nominees P/L & Grayme P/L, who have continually invested in and resourced CMI for over 40 years have sold 100% of the companies shares to Australis Music Group owned by Fiona Brown.
Fiona purchased Australis Music Group last year and is still a director of the business she co-founded, Dicker Data (ASX: DDR). Fiona has built a technology distribution business with a revenue of $2 billion per year. To have an investor, advisor, and director of this caliber guarantees an incredibly bright future for both Australis Music Group and CMI.
Australis Music Group and CMI Music and Audio represent a large portion of the MI and Technology brands that drive the industry and this consolidation comes as huge news to the Australian Music Retail landscape.
Australis already distributes major brands in Australia such as Gibson, Epiphone, Behringer, Ibanez, Mesa Boogie, Kramer, Orange, Tama, Sabian, Tannoy, Seymour Duncan, TC Electronic and more. Now added to the group via CMI will be more iconic brands including, Aguilar, Blackstar, ESP, Korg, Arturia, Native Instruments, Tascam, AKG and many others.
Both parties have stated that this is an enormous opportunity for the staff, suppliers, and investors. Thank you for your support over the years, and your ongoing support for this exciting change of management.
CMI’s three Trojkovic brothers, Luke, Drago and Peter have been part of the fabric of Australia’s music products industry for decades, beginning as working musicians and sound guys, moving into retail and finally settling into the iconic music wholesale company Central Musical Instruments (CMI).
Drago and his brother, Luke, formed a band in Melbourne that soon employed their brother Peter to run the sound. As more sound gear was needed, Peter established a Live Sound rental company. When Luke and Drago decided to get off the road they joined Peter in business. Luke opened a series of music retail stores and Drago focused on wholesaling to supply both Luke’s stores and Peter’s rental business. The formula worked and soon all three divisions were growing. When Luke retired, Peter and Drago focused their attention of the wholesale business, which has continued to this day.
Australian Musician wishes both parties a smooth transition and look forward to what they can contribute to the industry moving forward.
(Read the original announcement)