BREAKING NEWS: Aqipa Snares Pioneer & Onkyo European Distribution
Aqipa GmbH – the parent company of Melbourne-based Aqipa Australia – has snared European distribution for Onkyo and Pioneer Corp – a deal worth around €140m in annual revenue, following the brands’ separation from Gibson Industries in the US.
The asset deal will transfer of all of Onkyo and Pioneer Corporation’s European business activities – including distribution, logistics, marketing and sales – to Austrian based Aqipa.
From October 1st, the distributor will gain ownership of all Onkyo & Pioneer Corp European “assets, infrastructure and  staff”.
Whilst the deal does not include Australia, ChannelNews understands this may change in the future, expanding to other global regions.
The news follows the establishment of Aqipa Australia in late 2016 – one of the country’s fastest growing premium lifestyle distributors, with brands such as; Bang and Olufsen, AudioPro, Pure, Master & Dynamic, Audiofly and Marshall.
In addition to Pioneer and Onkyo, the agreement will include home cinema brands; Integra, Teac and Esoteric.
Established in 1990, Aqipa employs over 300 staff across Europe and Australia. After October 1st, 91 Pioneer & Onkyo European staff will join the “Aqipa family”.
Consensus is, it’s a strong strategic move for all parties, whilst allowing Pioneer & Onkyo to focus on product development, amid mounting competition from Yamaha and Denon.
Aqipa CEO, Christian Trapl, affirms the distributor’s involvement will deliver heightened brand awareness, supported by advanced sales intelligence and market-leading IT systems.
“I feel absolutely confident that joining forces will strengthen both Aqipa’s market position and portfolio, as well as the distribution of Pioneer and Onkyo products,” Trapl adds.
Pioneer & Onkyo Europe GmbH President, Susumu Shiotsuka, asserts the deal will better optimise product distribution, whilst expanding the brands’ sales channels and enhancing European brand presence.
“In the future, we will be able to focus on our core competencies in the areas of development, production and brand building,” adds Shiotsuka.