NASHVILLE – Gibson Guitar Corp. announced a strategic partnership with Onkyo Corporation, saying Onkyo offers Gibson’s newly-formed Pro Audio Division substantial technology resources. Gibson, in turn, will provide Onkyo with its marketing resources and expertise. As part of the deal, Gibson will acquire a majority of Onkyo USA, which is Onkyo’s exclusive distributor for North America and a distributor for Central and South America. The move also makes Gibson the second-largest shareholder in Onkyo Corporation.
Along with a strategic investment in Onkyo, Gibson chairman and CEO Henry Juszkiewicz joins the Onkyo board of directors. Onkyo, in turn, will invest in Gibson, and CEO and president Munenori Otsuki will take a position on Gibson’s board of directors. Together, the two entities will form a Hong Kong-based joint venture focusing on design and development of unparalleled consumer audio products. Through this alliance, Onkyo USA becomes the latest addition to the Gibson Pro Audio division, which already includes KRK, Cerwin-Vega and Stanton.
All agreements are subject to Japanese regulatory clearance, negotiation of definitive agreements and financing approvals of lenders.
For more information, please visit www.gibson.com and www.onkyousa.com.
