Fender buy out Hamer, Ovation etc..

Fran · Post by **Fran** » Mon Oct 06, 2008 6:26 pm

Interesting. I wonder if they will keep the brands going as they are or put the big F on them. High end Hamer stuff supposed eat PRS according to all accounts. Anyone here's what info i can find;

Kaman Announces Agreement to Sell Music Segment
BLOOMFIELD, Conn., Oct. 29 /PRNewswire-FirstCall/ -- (Nasdaq: KAMN) Kaman Corporation announced today that it has entered into a definitive agreement to sell its wholly owned subsidiary, Kaman Music Corporation (KMC), to Fender Musical Instruments Corporation (FMIC) of Scottsdale, Arizona for approximately $117 million in cash, subject to specified post closing purchase price adjustments. The stock purchase agreement, which contains customary representations and warranties and covenants, has been approved by the Kaman Board of Directors. Closing is targeted to occur prior to January 1, 2008, subject to the satisfaction of customary closing conditions, including termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

KMC, which comprises the company's entire Music segment, owns Ovation Guitars, LP and Toca hand percussion products, Gibraltar Hardware, Genz Benz Amplification, Hamer Guitars, and is the exclusive U.S. sales representative for Sabian Cymbals, and exclusive worldwide distributor of Takamine Guitars and Gretsch Drums. Privately held FMIC is the world's leading electric guitar manufacturer. In addition to owning the world-renowned Fender brand name, FMIC also owns Guild guitars, Charvel Guitars, Jackson Guitars, SWR Bass Amplification, Tacoma Guitars, EVH products, and is the exclusive worldwide distributor of Gretsch Guitars.

Kaman Chairman and CEO, Paul Kuhn, stated, "We have invested in KMC over the years to build our leadership position in the industry and KMC has been a positive contributor to the overall success of Kaman Corporation. However, our longer-term growth strategy has evolved to a focus on the aerospace and industrial distribution segments, which has meant finding a new home for KMC. We are very pleased to have attracted a strategic buyer of Fender's stature, and we are confident that KMC will have a bright future under Fender's leadership."

"We are delighted to welcome the Kaman Music Corporation into the Fender Family," said Bill Mendello, Chairman and Chief Executive Officer of Fender Musical Instruments Corp. "KMC is one of the most respected companies in the musical instrument industry. We have very similar cultures that have been developed over many years. The distribution expertise that Kaman Music brings to the music marketplace will complement and strengthen FMIC's growing operational excellence and ultimately offer dealers and consumers a better way to access a wider variety of high-quality music products and accessories."

Edward Miller, President of Kaman Music Corporation added, "There is great synergy between Kaman Music and Fender, both of which are deeply rooted in the long history and colorful culture of popular music. The acquisition of Kaman Music by Fender forms the most dynamic partnership of manufacturing and distribution expertise in the music industry."

Kaman was advised by Lazard and the law firm, Skadden, Arps, Slate, Meagher & Flom, LLP. Fender was advised by the law firm, Sullivan & Cromwell LLP.

SOURCE Kaman Corporation

robert(original) · Post by **robert(original)** » Mon Oct 06, 2008 6:27 pm

you know fender already owns guild, kramer, jackson, stuff like, and so far, they have no changed to all strats and tele's so thats good, but boo fender for being a bigger monopoly than gibson.

DGNR8 · Post by **DGNR8** » Mon Oct 06, 2008 6:45 pm

Interesting that Gretsch drums had been a separate distro. $117M doesn't sound like much with all this talk about $800B bailout.

jcyphe · Post by **jcyphe** » Mon Oct 06, 2008 9:29 pm

This is old news.

Fran · Post by **Fran** » Mon Oct 06, 2008 9:40 pm

jcyphe wrote:This is old news.

HAHAH, spooky, as i posted this up i knew you'd post those exact words.
I only just found out and had'nt seen it mentioned before.

euan · Post by **euan** » Mon Oct 06, 2008 9:59 pm

Do I imagine Fender owning Parker as well?

robert(original) · Post by **robert(original)** » Mon Oct 06, 2008 11:14 pm

hopefully is fender has any sense they will elimate the ovation line completely, i hate those things.
and if they did own parker, i would hope they did the same.
but thats an opinion.

ultratwin · Post by **ultratwin** » Mon Oct 06, 2008 11:23 pm

euan wrote:Do I imagine Fender owning Parker as well?

astro · Post by **astro** » Tue Oct 07, 2008 12:22 am

I'm sure Fender will eventually buy out Gibson.

ekwatts · Post by **ekwatts** » Tue Oct 07, 2008 2:52 am

astro wrote:I'm sure Fender will eventually buy out Gibson.

That would be so awesome. You know, to have decent Gibson guitars. With, like, quality control and decent finishes.

Nah, fuck Gibson. Let 'em die and shrink into the nostalgia market even further.

But yeah, Fender is getting to be pretty large in the guitar world (larger, they were already "big"). I'm fine with it so far; Fender don't tend to charge astronomical prices just yet, and if it means we get even more awesome shit from Squier, then I'll continue to sit on my hands. But monopolies are never good.

robert(original) · Post by **robert(original)** » Tue Oct 07, 2008 3:12 am

fender charges astronomical charges?
come now, a standard fender is less than 1,000.00 u.s. dollars.
a gibson stand is over 2,000.00 dollars.
gibson charges alot for a name on the headstock, but fender charges less.

suede · Post by **suede** » Tue Oct 07, 2008 3:48 am

robert(original) wrote:hopefully is fender has any sense they will elimate the ovation line completely, i hate those things.
and if they did own parker, i would hope they did the same.
but thats an opinion.

bravo!

Ninja Mike 808 · Post by **Ninja Mike 808** » Tue Oct 07, 2008 4:06 am

Other Brands FMIC owns

I'm fairly sure they own more than this, but no mention of Parker.
I liked Ovation before, I hope they bring down some of their prices. It really bothers me that they have very similar guitars that range too greatly in price.

Will · Post by **Will** » Tue Oct 07, 2008 5:43 am

I really liked the graphite topped Ovation I tried a few years back - sounded like a grand piano. Hopefully Fender will continue with that kind of experimentation.

euan · Post by **euan** » Tue Oct 07, 2008 7:15 am

U.S Music Corporation who own Randell and Washburn own Parker. I knew they were bought a while ago but turns out I was wrong about it being Fender.

The world needs Parker Flys anyway.

robert(original) · Post by **robert(original)** » Tue Oct 07, 2008 9:38 am

the world needs a swift kick to the ass and be rid of ovations n parker fly's
"oven baked guitars!, but not as baked as we were when we thought of it!"
i never even see parkers anymore, where are they?

euan · Post by **euan** » Tue Oct 07, 2008 9:46 am

I've only ever seen a few and I like them. If I had the chance I would own one

astro · Post by **astro** » Tue Oct 07, 2008 1:55 pm

Maybe Fender should buy CBS and increase the quality control on their TV shows.

aen · Post by **aen** » Tue Oct 07, 2008 3:57 pm

WHAT A COUP THAT WOULD BE!

Actually, I think they should buy dwarfcraft for about 18 million. I could make that last another 60 years right?

stewart · Post by **stewart** » Tue Oct 07, 2008 6:58 pm

euan wrote:I've only ever seen a few and I like them. If I had the chance I would own one

there's some in that 'reverb' shop on union street in glesga.

the neon sign caught my eye, i glimpsed it just before the wave of nausea enveloped me and i collapsed to my knees, gasping for air... etc.

didn't see if they had any lefties, but nip in for a look and have a twiddle. and then laugh at how much RUBBISH stock they've got.