Fine Sounds to Acquire McIntosh
Breaking news this morning is the announcement that the Italian Investment Group Fine Sounds SpA is to acquire 100% of famed US tube-amplifier manufacturer McIntosh Laboratory from D&M Holdings. Fine Sounds already owns the Sonus Faber, Audio Research, and Wadia Digital brands and the Sumiko distribution company.
From the press release: Fine Sounds and McIntosh believe the acquisition will deliver important benefits to McIntosh’s customers, sales partners and employees by providing opportunities for building on Fine Sounds Group’s product development capabilities, distribution synergies and financial resources. With Fine Sounds’ support, McIntosh is now poised to elevate its brand to even higher acclaim, expand its distribution as well as its reach into new international markets.
"We are thrilled to welcome McIntosh, one of the industry's most illustrious brands, into our portfolio," says Mauro Grange, CEO of Fine Sounds Group. "McIntosh is dedicated to the highest caliber of high-end audio and is a perfect fit with our own culture and vision. We will treasure and protect the legacy of McIntosh as well as its people and reputation."
"We are very excited to be joining hands with a partner that has a deep appreciation for our unique brand, history and company culture," says Charles Randall, current President and CEO of McIntosh, who will continue managing the McIntosh brand with the full support of Mauro Grange and the Fine Sounds’ team. "It's their appreciation of our legacy, as well as their strong leadership, distribution advantage and marketing expertise that gives us confidence in a bright future."
"McIntosh will help strategically strengthen our brand portfolio, allowing us to have a broader product offering, covering more categories, offering customers a complete solution. It does not compete with any of the other brands we holdit is positioned quite differentlyand offers opportunities for great synergies which we can leverage," added Grange.