TRAVIS - ROUGH TRADE ACQUIRED BY BEGGARS

Independent record label Rough Trade has joined the Beggars Group after the company bought Sanctuary's share of the small firm.

Rough Trade will continue to operate out of its own offices but all central functions will now be taken over by the Beggars Group.

Geoff Travis, founder of Rough Trade, said: "It has been a long and fitful journey from the time we were selling Lurkers singles in the Rough Trade shop on Kensington Park Road to this brand new partnership.

"It has been a road littered with bumps and crashes but nevertheless we have had many world-class artists gracing our label."

Rough Trade developed from a record shop in Notting Hill to a label which has owned some of independent music's most successful artists.

The Strokes UK releases are still with Rough Trade, while the Libertines' short spell with the company resulted in a number one album for the label.

Martin Mills, owner of Beggars Group, added: "In our early days, I used to drive our new records over to the Rough Trade shop in Notting Hill.

"They've clearly been a crucial part of the UK independent scene since then, from the days of the Cartel and the Smiths, to the Strokes and Sufjan Stevens.

"It was impossible to resist the appeal of combining their amazing musical heritage with ours. Adding them to everything that's going on here for our existing group of record labels is a very exciting proposition."

Beggars Group already owns XL Recordings which has Dizzee Rascal and the White Stripes on its books.