Gibson Guitar acquires Stanton Group to form Gibson Pro Audio Division
|As part of its continued expansion as a lifestyle brand, Gibson Guitar announces the creation of its pro audio division through the acquisition of the platform assets of the Stanton Group which is comprised of KRK Systems, Cerwin-Vega! and Stanton DJ and makes superior products for consumers and professionals. Together, the companies will form Gibson Pro Audio division, which will be headquartered in Nashville, Tennessee.
The closing of this acquisition marks Gibson’s further expansion into the pro audio market with loudspeaker, monitor and electronics technology. In addition, Stanton Group gives Gibson the ability to leverage its existing research and development base.
“Right now we have an extremely powerful brand that people recognize and value, but the musical instrument category is inherently limited because people who purchase instruments also need to know how to play them,” says Henry Juszkiewicz, Chairman and CEO of Gibson Guitar. “This new division is perfectly aligned with our core. It expands our reach to fellow music lovers and allows us access to 20 in 20 consumers instead of the one in 20 we currently hit. Stanton produces some of the best pro audio equipment in the world and we’re incredibly excited to be working with the very talented team at Stanton as we take Gibson into the future.”
“We are very excited to be joining the Gibson family,” says Timothy Dorwart, CEO of the Stanton Group. “This partnership will allow our brands and core management team to continue our growth and momentum in the marketplace within our shared channel while the association with the iconic Gibson brand gives us the opportunity to quickly expand our customer base. Moreover, we bring technical resources that will enhance the R&D capabilities of both companies.”
At upcoming Winter NAMM 2012 exhibition, both companies will still be exhibiting separately.. However, the Pro Audio Division will also have some real estate in the Gibson booth.
A few years ago, Gibson already tried to enter the pro audio industry by cooperating with Danish tc electronic group. This eventually didn't work out.
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