TC Group Announces Merger With Gibson Guitar
Gibson Guitar and TC Group are planning to merge according to a mutual announcement made by Henry Juszkiewicz, chairman and CEO of Gibson Guitar, and Anders Fauerskov, CEO of TC Group,.
“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,” Henry Juszkiewicz, chairman and CEO of Gibson Guitar, speculated.
The announcement marks a preliminary agreement between the two companies. Under the terms of the new acquisition, 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.
TC Group, headquartered in Risskov, Denmark, is a holding company of five individual companies consisting of Tannoy Group, Lab.gruppen, TC Electronic Group, TC-Helicon and TC Applied Technologies. Founded in 1894 in Kalamazoo, MI, and headquartered in Nashville since 1984, Gibson Guitar Corp.’s family of brands now includes Epiphone, Dobro, Maestro, Kramer, Steinberger, Tobias, Echoplex, Electar, Flatiron, Gibson Baldwin Music Education, Slingerland, Valley Arts, Oberheim, Sunshine Piano, Take Anywhere Technology, Baldwin, J&C Fischer, Chickering, Hamilton and Wurlitzer.
