Fender Musical Instruments Corporation is set to acquire Kaman Music Corporation for $117 million. The deal should close no later than January 1, 2008. The two powerhouse companies will unite in what will become the largest musical instrument and accessories provider in the world.
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Fender Musical Instruments Corporation is set to acquire Kaman Music Corporation for $117 million. The deal should close no later than January 1, 2008. The two powerhouse companies will unite in what will become the largest musical instrument and accessories provider in the world.
Kaman, which offers over 20,000 music products, owns Hamer Guitars, Ovation Guitars, Genz Benz Amplification, and is the exclusive worldwide distributor for Takamine Guitars and Gretsch Drums, just to name a few. FMIC isn’t too shabby in their bragging rights either, with renowned brands like Fender, Jackson, Squier, Gretsch, Guild, Charvel, SWR, EVH, Tacoma, Olympia and Brand X.
Matt Janopaul, President and Chief Operating Officer of FMIC, said of the acquisition: “FMIC is a proven steward of great brands, and the acquisition of KMC is consistent with this long-term growth strategy. We have great respect for what KMC’s seasoned management team has accomplished over the past forty plus years. This is an amazing company that today under Ed Miller’s leadership has numerous opportunities both domestically and internationally. We look forward to providing KMC with the resources to accomplish these goals.”
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