Who was recently sold to a foreign power?

[Newc]

Someone mentioned at werk last night that they heard Fender was recently sold to a foreign company. They said it was a "famous" or at least "householdish" name but couldn't recall who, exactly.

I thought if it were Fender there'd be a never-ending shitstorm here, and since I haven't seen it, it must be someone else.

So, what guitar company of some "status" was recently sold? PRS? Gibson?

[MakeAJazzNoiseHere]

Subscribed for infos... I am Curious George.

[rjohnstone]

Just checked the usual sources and FMIC is still a privately held company right here in the good old USA.
Same with Gibson... Henry is still running the show, it's still privately held as well and still in Nashville.

[missionguitars1]

There were rumors of Gibson selling to Peavy, but they're unfounded...

http://www.musicradar.com/news/guitars/gibson-not-for-sale-222116

[rjohnstone]

Peavy is a US company as well. Still privately held too.
Notice all the good guitar companies are not traded on the stock market.

[Rich#6]

FMIC is probably worth a billion+ I'm sure that would have been in the news.

[mattsmusiccenter]

Jam Industries, Ltd. Acquires US Music
Rudy Schlacher announced today that he is stepping down from his position as CEO of US Music Corp, an enterprise he founded four decades ago, as the company has been acquired by Jam Industries, Ltd.

Rudy stated, "We are pleased to join forces with a strategic partner like Jam Industries, Ltd. who has a long successful history in the music industry and has been a long-term business partner with US Music." Rudy added, "It has been a thrilling and rewarding 40 year ride that has allowed me to realize my dreams and goals that would not have been possible without the support of our customers and suppliers. It is now time to hand the reins over to a valued and trusted partner."

Marty Golden, chairman of Jam Industries Ltd, commenting on the purchase of US Music said, "It is with great pride that we have been able to come to an agreement with Rudy and US Music Corp that will enable US Music and its worldwide brands... to continue to grow and prosper going forward. We envision that US Music will operate as an independent and wholly owned subsidiary of Jam Industries under the guidance of its current president, Barry Ryan."

In closing, Marty Golden stated, "We are confident that we will be able to leverage our combined companies strengths and past successes to even greater results. In addition, we will continue to tap into Rudy's creative and intuitive instincts as well as his supplier knowledge as we make the transition to the next chapter in US Music'ss history."

U.S. Music Corp's family of brands includes: Washburn; Randall; Eden; Parker; Soundtech; Oscar Schmidt; Vinci; and GWL. Jam Industries, Ltd. is a Quebec-based company that has been distributing musical instruments and related gear for over 30 years.

[Mikernaut2]

Jam who? so US Music is now owned by Canadians? That sounds rather odd. They need to change their name now to "Quebec Music"

[straycat]

EH?

[MakeAJazzNoiseHere]

EH?

Yah, what's that all aboot?

[Grandturk]

I wouldn't exactly describe Canada as a foreign power.

[Spivonious]

Does this mean we can get hockey-stick headstocks on Washburns?

[Hellbat]

As a Canadian citizen I demand that the company's first act is to destroy any and all items related to the production of that godawful Washburn swoopy offset V.

[Leo Chang]

As a Canadian citizen I demand that the company's first act is to destroy any and all items related to the production of that godawful Washburn swoopy offset V.

As another Canadian citizen, I second that motion


- Leo.

[RacerX]

I wouldn't exactly describe Canada as a foreign power.

Bwaha