SOUND UNITED SETS SIGHTS ON ONKYO & PIONEER
It's very likely that many didn't see the early signs that Sound United would emerge as a Goliath in the consumer audio market with a small but incredibly potent portfolio of brands.
StereoNET broke the exclusive news story only two years ago, with Polk Audio, Definitive Technology and a relatively unknown headphone brand, BOOM already in its stable, that it successfully snapped up the juggernaut that was D+M Group, bringing Denon, Marantz, HEOS, and Boston Acoustics into the fold.
Later that year, Sound United extended a lifeline to Canadian brand Classé which had been left orphaned by the sale of B&W Group who then owned the brand (and Bowers & Wilkins) to EVA Automation.
This week, Sound United has announced it has entered into a term sheet agreement to acquire Onkyo Corporation's consumer audio division, including the Onkyo, Pioneer, Pioneer Elite, and Integra brands.
The completion of the deal is still dependent on various approvals from all parties, regulators and key shareholders with a firm announcement expected towards the end of June 2019.
Sound United is a subsidiary of DEI Holdings, a portfolio company of Boston-based private equity firm Charlesbank Capital Partners, LLC.
Kevin Duffy, Sound United CEO, said:
Upon completion of the transaction, we will work tirelessly with the consumer audio division of Onkyo Corporation to ensure a seamless transition into the Sound United family so that all employees, customers and channel partners benefit from the enhanced breadth and depth of the new organization.
The press announcement also stated that “As part of the planned acquisition, Sound United will be acquiring all worldwide third-party distribution agreements under which the premium audio products are currently sold.”
A portfolio including Denon, Marantz, HEOS, Polk Audio, Definitive Technology, Boston Acoustics, Classé, Onkyo, Pioneer, Pioneer Elite, and Integra, is undoubtedly a force to be reckoned with. There's no question about that.