Gibson Guitar and TC Group to merge
Two of the most recognised brands in Pro Audio unite in a move set to "revolutionize" the industry
Gibson Guitar, the world renowed instrument manufacturer and the TC Group, owners of Lab.Gruppen and Tannoy, have announced that they are planning to merge.
The annoucnement was made at the Winter NAMM show in Anaheim by both Gibson Guitar Chairman and CEO Henry Juszkiewicz and CEO of TC Group, Anders Fauerskov.
The TC Group, headquartered in Risskov, Denmark, develops and manufactures audio products for audio professionals and musicians. The company has a number of premium brands of pro audio technology and produces amplifiers, speakers, digital processors, guitar pedals and other pro audio and MI products. TC Group's customers include top musical artists, world class recording studios, television and radio/TV stations, prominent theatres, commercial installations, and home entertainment.
"This merger will revolutionize the music industry for many years to come," said Henry Juszkiewicz, Chairman and CEO of Gibson Guitar. "The synergy between the two companies will allow us an enormous advantage in the development of new audio technologies and brings together two of the world's most powerful brands."
"The opportunities ahead are very exciting for us," said Anders Fauerskov, Chief Executive Officer of TC Group. “This merger will create exciting new opportunities for all employees within TC Group and Gibson, and in particular, fantastic new tools for our markets and customers. This partnership will allow us to expand our leadership position in the marketplace."
The announcement marks a preliminary agreement between the two companies. Under the terms of the new merger, Anders Fauerskov will remain based in Europe, and serve as Chief Operating Officer of the new combined Gibson Guitar Corp. The two companies expect to finalize the deal by the end of February 2008. Terms of the deal are not disclosed.