BREAKING NEWS: D+M Brands Marantz, Denon, Heos + Boston Acoustics Sold
The largest supplier of loudspeakers in the USA, Sound United has snapped up D+M, manufacturers of Denon Marantz and Boston Acoustics, they also get the Heos by Denon High Res networked sound gear brand, The purchase price has not been revealed.
The shock acquisition could have a major impact on the distribution of the brands worldwide. In Australia, the D +M brands are distributed by Qualifi.
Sound United is owned by DEI Holdings, which is itself owned by Boston-based private equity firm Charlesbank Capital Partners.
Sound United is best known for their Polk Audio, Definitive Technology and Polk Boom brands, these brands are distributed in Australia by Interdyn and Directed Electronics.
The deal brings together the largest supplier of audio/video receivers worldwide (D+M) with the largest supplier of loudspeakers in North America (Sound United).
“D+M Group’s portfolio of brands and Asia Pacific/European footprint is a perfect complement to Sound United’s goal to drive global growth” CEO Kevin DuffyDuffy said. “The product and technology portfolio is complementary and supports efforts reaching into new market segments—like A/V receivers.”
Sound United will now have a wide presence across the custom installation, high-end audio, and consumer audio markets. The acquisition extends the partnership struck between the conglomerates back in 2014 for D+M to distribute Sound United brands in Europe.
Duffy told US publication TechCrunch that “At this time, no immediate changes to the current product portfolio, employee roster, or company locations are known. As we know more, we will continue to inform our partners and customers.”
Duffy, will serve as CEO of the combined company. D+M Group CEO Jim Caudill will continue as an advisor to the consolidated company. The combined company will be known as Sound United.
The sale was finalized on Feb. 28.
“This transaction is a testament to D+M Group’s employees and exceptional brands and all that we’ve accomplished in the audio industry,” said Caudill. “By joining Sound United, we expect to deliver tremendous value to our customers through access to Sound United’s aspirational speaker brands including Polk Audio and Definitive Technology. We believe that this transaction will drive compelling opportunities for our employees, customers, and suppliers, and we are looking forward to ensuring the success of the new organisation.”
He added “We plan to leverage those core values in the combined company to offer consumers and our channel partners a breadth of complementary products while expanding our investments in technology development and marketing.”
He continued: “We welcome the addition of the D+M team and are we are excited to work together to ensure that this strategic combination capitalizes on its global leadership position while also ensuring that each of our individual brands continues to be highly differentiated in the marketplace. Our existing customers and channel partners will benefit from the enhanced breadth and depth of the combined product portfolio, while our strategic suppliers should be well-positioned to expand with us as we grow.”