Terms of the deal, which was completed Friday, were not disclosed. But three years ago, Imagem, which was founded by the Dutch pension fund ABP and the media company CTM Publishing, tried to sell itself for $650 million, a price that bidders found too high. Concord’s deal is estimated to be for somewhat less than that amount, according to two people briefed on the deal who were not authorized to discuss it publicly.

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The composer Richard Rodgers, right, and the lyricist Oscar Hammerstein II in 1956. Concord Bicycle will acquire rights to their musicals.

Credit
Associated Press

The purchase is Concord Bicycle’s biggest by far, almost doubling the size of the company to nearly $1 billion. Counting Imagem’s business, the combined company would have $290 million in revenue this year, Mr. Pascucci said.

The deal will vastly expand the company’s theatrical holdings and add a new piece through Boosey & Hawkes, a premier classical catalog.

André de Raaff, Imagem’s chief executive, pointed to a recent Dove commercial using “My Favorite Things” from Rodgers and Hammerstein’s “The Sound of Music” as an example of the catalog’s value.

“I dare to say that ‘The Sound of Music’ is making more money now than when it was successful for the first time 50 years ago,” he said.

The value of the Boosey & Hawkes catalog is less clear, as classical music remains a small niche, one not particularly well served by streaming services.

“If our optimism is misplaced or overstated,” Mr. Pascucci said of the classical material, “then at worst you have a large and very stable catalog.”

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Daft Punk performing at the 56th annual Grammy Awards in Los Angeles in 2014. Imagem’s catalog of 250,000 compositions includes pop hits by the group.

Credit
Matt Sayles/Invision, via Associated Press

For Concord Bicycle, the Imagem acquisition will cap a busy period of deal making. Four years ago, Wood Creek Capital Management, a private equity affiliate of MassMutual, bought the Concord Music Group, a record label that had built a business catering to adult tastes with Paul McCartney, the Stax soul catalog and a joint label with Starbucks. (Concord Bicycle is now owned by Barings Alternative Investments, the successor to Wood Creek; Sound Investors, led by the media executive Stephen Smith; and others.)

Then, in 2015, Concord merged with the Bicycle Music Company, a publisher, and the combined company made a series of deals for new kinds of music: Wind-Up Records and Razor & Tie brought hard rock and the popular “Kidz Bop” series; a deal for Musart added Latin music; a deal with the music executive Tom Whalley for his label Loma Vista added alternative acts like St. Vincent; and there was a partnership with Andrew Lloyd Webber’s Really Useful Group.

The Imagem deal is the latest in a frothy market for music publishing, the side of the business that deals in the copyrights for songwriting and composition. With the recorded music business shaken by digital disruption, investors have viewed publishing catalogs as a safer investment. The owners of these rights collect money whenever songs are played on the radio, streamed online or used in film and television.

The acquisition of Imagem will also add to Concord Bicycle’s overhead, since Imagem’s theatrical, classical and pop catalogs are managed as distinct business units, with their own staff. Concord Bicycle will now have more than 350 employees, and its relatively small publishing division of about 25 people, run by Jake Wisely, will gain more than 100 people as part of the deal.

In an interview, Mr. Pascucci emphasized the efficiency of Concord Bicycle’s operation, drawing an elaborate organizational chart on a scrap of paper. Like a major label, he explained, his company has specialized record divisions and a central team for promotion and sales.

“The way we think about our business,” he said, “is we want to have the potential impact and firepower of a major label, but we are an indie.”

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