Marshall, the big UK sound brand whose speakers are distributed by Melbourne-based Aqipa, has been sold in a deal worth A$598M
Marshall Amplification has agreed to a takeover offer from Stockholm-based Zound Industries, which makes wireless speakers and headphones.
ChannelNews has confirmed that Aqipa will continue to sell the Marshall range, with a new Marshall speaker set to be launched soon in Australia.
Under the new structure the Marshall family will become the largest shareholder with a 24 per cent stake in the company, which will be rebranded as Marshall Group.
They have also been paid an upfront lump sum in cash.
The Swedish Company Zound already held a licence to produce headphones and consumer speakers carrying the distinctive Marshall signature logo.
This is the same Company that has a licence for adidas and Urbanears.
Jim Marshall, who died in 2012, founded the eponymous company in west London alongside his son Terry in 1962. They sold their first amps to young musicians such as The Who guitarist Pete Townshend. In 1967.Production moved to Bletchley, close to Milton Keynes, where the company still has its headquarters.
Zound was founded in 2008, aiming to be a more fashionable alternative to audio brands such as Bose, JBL or Sony. It grew alongside the smartphone market and the rise of music streaming apps such as Spotify and Apple Music.
According to the financial Times back in 2020, Zound abandoned plans for a potential stock market listing and was forced to cut staff, amid lower than expected sales and pandemic-related supply challenges.
But as COVID delivered a surge in demand for sound gear growth rebounded in 2021, with net sales rising by a further 44 per cent to A$446M in 2022.
Marshall’s most recent filings to the UK’s Companies House registry show that turnover increased by about 4 per cent to A67M in 2021, with pre-tax profits of A$9.7M . It also owns Natal drums, a record label and recording studio, all of which will become part of the new group.
Combined revenues for newly created Marshall Group would have been more than A$537M over the past 12 months, the companies said.
Jeremy de Maillard, Zound’s chief executive, sought to reassure Marshall’s fans — who include Eric Clapton, Guns ’N Roses guitarist Slash and Blur’s Graham Coxon — that the tech start-up would be a safe custodian of its “signature sound”.
“We’ve always made sure that the acoustic department at Marshall was satisfied with the quality of the products created by Zound for the past 12 years,” he said.
De Maillard added that by bringing the full product range under one roof, it would enable the group to “have faster innovation and a deeper connection with musicians and music lovers”.