ZZ Top have sold their publishing rights and back catalogue.
The ‘La Grange’ hitmakers – who have sold more than 50 million albums – have offloaded the assets to music company BMG and investment firm KKR to ensure their legacy will continue “for generations to come”.
ZZ Top’s manager Carl Stubner said in a statement: “We are proud to continue working with and expand our long-standing relationship with BMG.
“This new deal ensures ZZ Top’s remarkable legacy will endure for generations to come.”
BMG CEO Hartwig Masuch insisted the deal showed the company is “committed to respecting and treasuring” the band’s “artistry”.
He said: “This deal is a testament to the success, staying power and continuing musical relevance of ZZ Top, but also to the power of our partnership with KKR.
“This agreement furthers our vision of providing artists and songwriters not just a financial exit, but also a vehicle committed to respecting and treasuring their artistry.”
KKR partner Jenny Box added: “We are excited to invest in ZZ Top’s iconic music and we look forward to collaborating with BMG and ZZ Top to further amplify the reach of their catalogue.”
This news comes after ZZ Top bassist Dusty Hill died aged 72 in July, just weeks after he was forced to pull out of a number of shows across the US after suffering an injury to his hip.
Bandmates Billy Gibbons and Frank Beard confirmed the news in a statement, which read: “We are saddened by the news today that our Compadre, Dusty Hill, has passed away in his sleep at home in Houston, TX.
“We, along with legions of ZZ Top fans around the world, will miss your steadfast presence, your good nature and enduring commitment to providing that monumental bottom to the ‘Top’.
“We will forever be connected to that ‘Blues Shuffle in C’. You will be missed greatly, amigo.”
Dusty was a founding member of the rock band, and was inducted into the Rock and Roll Hall of Fame as a member of the group in 2004.