FENDER BUYS KAMAN MUSIC DIVISION

[Isaac]

Kaman sells music division to Fender

Kaman Corps pares down as Fender moves into percussion

No sooner had trading begun this morning in the US than the Kaman Corporation announced that it had agreed a definitive deal to sell its subsidiary, the Kaman Music Corporation, to Fender Musical Instrument Corporation for $117 million. The sale is expected to be completed before January 1st 2008.

Kaman Music owns a raft of high profile MI brands, including Ovation Guitars, Latin Percussion, Toca hand percussion, Gibraltar hardware, Genz Benz amplification, and Hamer Guitars. Fender, too, owns some of the world’s top guitar brands, including Guild, Charvel, Jackson, SWR bass Amps, Tacoma, EVH products, and is the exclusive worldwide distributor of Gretsch Guitars. While Ovation and Hamer would sit very snugly into the current Fender catalogue, as does the Genz Benz brand, the purchase sees the Fender company, resurrected from near disaster in 1986 by Bill Schultz, make a large scale purchase outside of its core specialisation of guitars for the first time.

Kaman’s reasons for selling boil down to the corporation’s desire to concentrate on its massively lucrative aerospace and industrial distribution segments. “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,” commented Kaman’s chairman and CEO, Paul Kuhn.

Bill Mendello, the chairman and CEO of Fender Musical Instruments Corp was quoted as being ‘delighted’. “KMC and Fender have very similar cultures and the distribution expertise that Kaman Music brings to the music marketplace will complement and strengthen Fender’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, the president of Kaman Music added: “The acquisition of Kaman Music by Fender forms the most dynamic partnership of manufacturing and distribution expertise in the music industry.”

With the deal subject to the satisfaction of customary closing conditions, no immediate changes will be apparent anywhere in the MI trade, although Kaman distributes several high profile brands in the US, including Sabian cymbals, and the Kaman catalogue in the UK is represented by several UK suppliers, including JHS & Co (Ovation), Arbiter (Latin Percussion and Toca), and Sutherland Trading (Genz Benz).

[Tonio]

Kaman sells music division to Fender


Edward Miller, the president of Kaman Music added: “The acquisition of Kaman Music by Fender forms the most dynamic partnership of manufacturing and distribution expertise in the music industry.”

Thats big news, Thanks for sharing Isaac.
The quoted statement leads me to believe that even though its a aquisition, its going to be a partnership as in they will let Kaman continue the distribution(the work), yet Fender will rake in the dough.
What a load of crap!! Its just means that some schmuck that does'nt know ka ka about the product gets make big time decisions. who knows what will happen down the road. anyone familiar with the Gibson fiasco?

Nothing like corporate capitalism. :angry: I've seen this sooo much.

T

[Isaac]

If they're in doubt about what to do with all the percussion acquisitions, they
may possibly figure it out during their 18 holes of golf...
or they could simply listen to us percussionists.

I sincerely hope they continue with LPs and Toca's offerings of workshops
and educational days. Teaching and expanding awareness
- bringing in & inspiring the new young players is paramount.
This was always part of Martin Cohen's big picture and still is.

This is how I myself got hooked in a workshop in NYC 1979 at the PAS convention.
It was with Eddie Montalvo, Sal Cuevas, and Eddie Martinez...
It might have been Nicky Marrero on timbales, if I remember correctly.
I ended up being a roadie for MAx Roach that same day.

It's good for the players and good for the instrument business.
I recently attended
a workshop with Eddie Montalvo, Louie Bauzo and Eric Velez
last spring. I would hope they would carry on that fine educational
(run by Memo Acevedo) aspect of the LP & Toca companies that Fender has just acquired.
Unless the teaching & learning happens the instrument just are merely
decorative objects collecting dust no matter how good they are. It must be passed on Live-in-person.
This is what's meant by a "living tradition". Collectors, there's a message here for you also.
Spread the love of the conga, don't just hoard them.

To thrive and not just survive these days business must be open minded, innovative
and increase awareness & history of their instruments - especially
so in an age of widespread digital sampling and desktop production. There
are possibly going to be a shrinking number of congueros
and bongoceros in the future. I'm optomistic this will
change.

That's why we come to this forum.
All the best...

~ ISAAC
Percussionist / Educator / Sales rep. JCR Percussion Co.

[Changuiri]

WELL SAID

[windhorse]

I think it's nice that a music oriented company will be the owner of LP rather than a company oriented to making money from wars.

Though they didn't seem to mix the two before.... Unless, they were dropping exploding Congas on drunken concert goers around the world.

[bongosnotbombs]

Ah but they were mixing them, I have a surveillance photo of their top secret weapon..

The Bongo Bomb..



Edited By bongosnotbombs on 1195402022

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