Pro Audio Division, Acquires Stanton Assets
As part of its continued expansion as a brand, Gibson Guitar recently announced the creation of its pro audio division through the acquisition of the platform assets of the Stanton Group. One of the oldest and most widely recognized designers and marketers of audio products, Stanton Group is comprised of KRK Systems, Cerwin-Vega! and Stanton DJ and makes products for consumers and professionals. Together, the companies will form Gibson Pro Audio division, which will be headquartered in Nashville TN.
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,” said 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.”
“We are very excited to be joining the Gibson family,” noted 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 expand our customer base quickly. Moreover, we bring technical resources that will enhance the R&D capabilities of both companies.”