Sound United has swelled an already-extensive list of hi-fi and AV brands by adding two more to its brand portfolio. Onkyo Corporation (Japan) today announced that it will transfer its Home AV business (Onkyo and Pioneer) to Sound United.
The transfer means that Sound United is now responsible for manufacturing and distributing the Onkyo, Pioneer, Denon, Polk Audio, Marantz, Definitive Technology, HEOS, Classé, and Boston Acoustics brands. Sound United is a subsidiary of DEI Holdings, a portfolio company of US private equity firm, Charlesbank Capital Partners.
“We are thrilled by the opportunity to add the venerable Onkyo and Pioneer brands to our portfolio. Sound United is one of the leading dedicated providers of premium audio/video products, and we believe the combined businesses will bring unrivaled innovation and sound performance to our consumers and channel partners,” said Kevin Duffy, CEO of Sound United. “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 organisation.”
Onkyo Corporation’s consumer audio division includes product categories such as: AV receivers, hi-fi equipment, mini-systems, smart speakers, turntables, soundbars, home cinema systems, optical disc players and many others. Onkyo Corporation will retain the rights to the Pioneer and Onkyo brands for the purposes of their Digital Life and Embedded Audio businesses. As part of the acquisition, Sound United will be acquiring all worldwide third-party distribution agreements under which the premium audio products are currently sold. As a result, industry experts expect that existing distribution agreements around the world for Pioneer and Onkyo will not change, 'at least for the foreseeable future'.
The deal is expected to complete on or around June 26, 2019, at which time you can expect the following graphic to change (click on image to enlarge):