Members Dendy Jarrett Posted January 6, 2015 Members Posted January 6, 2015 KMC Music Sells Percussion Brands, Ovation Guitars to Drum Workshop Fender Musical Instruments Corporation (FMIC) announced today that its subsidiary, KMC Music, has sold its owned and licensed percussion brands, including Gretsch Drums, Latin Percussion, Toca Percussion, KAT Percussion and Gibraltar Hardware — as well as the Ovation guitar brand and the exclusive U.S. distribution rights for Sabian Cymbals — to Drum Workshop, Inc., the manufacturer of DW drums, hardware and accessories. "We are extremely proud of our team's effort to nurture and grow each of the individual brands and are enthusiastic for their future," said Scott Gilbertson, FMIC's interim CEO and board member. "We recognize the strategic opportunity for DW and are confident that they will be champions of the brands moving forward." "This is an amazing opportunity to extend our passion and commitment for the art of drumming," said Chris Lombardi, CEO of Drum Workshop, Inc. "We're excited to welcome these legendary American brands to the DW family." Financial and other terms of the deal are not disclosed. WOW! D
Members FitchFY Posted January 9, 2015 Members Posted January 9, 2015 That's really quite interesting and says something strong about DW's position within the market. When you look at that span of companies, as well, it shows how small that market really is.
Members Dendy Jarrett Posted January 9, 2015 Author Members Posted January 9, 2015 The funny fact: Back in the late 1960's Ludwig and Slingerland both were distributors for cymbal companies, and and other small companies like percussion from Amrawco and the like. This was normal back then. The only think that I am trying to determine is the Gretsch part. I know that DW has been making Gretsch shells for about 5 years, and I suspect this could have played a part in the negotiations of this deal, but still not sure how they "fit" in this new equation. D
Members 1001gear Posted January 9, 2015 Members Posted January 9, 2015 Wonder what becomes of Gibraltar? Good thing I have all the clamps and arms I need.
Members Dendy Jarrett Posted January 9, 2015 Author Members Posted January 9, 2015 All great questions. More importantly, what is to become of all the reps that have been involved with these lines for years? I suspect, knowing Mr. Good, that he will be faithful to the brand's legacy and keep the integrity intact, but the people involved ... I am just not sure that they will be able to support multiple people on all these fronts.There will be some duplication of effort that may not be necessary ...D
Members rayboomboom Posted January 9, 2015 Members Posted January 9, 2015 Wow, this is really a bizzare twist on things. DW, Pacific, Gretsch and Gibraltar under the same roof?! Though now that I know DW has been making Gretsch shells, thanks Dendy, it does make some sense. But it's still bizzaro.
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