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Henry Juszkiewicz

Gibson Brands Continues to Show Signs of Strain

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Downsizing Factory & Dilution of Onkyo Ownership

Logo for Gibson BrandsRecent developments have thrust Gibson Brands back into the spotlight once again – a spot that CEO Henry Juszkiewicz doesn’t particularly enjoy, unless he’s there on his own terms. But this time, two tidbits of news have conspired to bring Gibson, and their financial challenges to the fore. And as we try to digest all of this, it’s clear that Gibson is continuing to show signs of strain due to sluggish results from its aggressive diversification into consumer electronics jeopardizing its ability to deal with looming huge debt payments on the loans used to acquire CE brands.

See the news that shines a light on Gibson’s troubled financial position… [Read more…] about Gibson Brands Continues to Show Signs of Strain

Is Gibson Brands Headed for a Default?

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Moody’s Hits Gibson Brands with Another Credit Downgrade

Logo for Gibson BrandsMoody’s Investors Service, one of the largest credit rating services in the world, has downgraded the credit rating for Gibson Brands, the Nashville-based parent of Gibson Guitar, Onkyo, Teac, KRK, Philips, Stanton and more. Moody’s has set their rating on Gibson Brands debt to Caa3, down one step from Caa2.

The move caused Wall Street investment analyst The Street to raise the specter of the possibility of Gibson Brands defaulting on their debt.

See why Moody’s says the Gibson Brands situation is unsustainable… [Read more…] about Is Gibson Brands Headed for a Default?

Gibson Brands Takes Control of Onkyo Corp.

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BREAKING NEWS

onkyologo

In a filing with Japan’s JASDAQ stock exchange, Onkyo revealed this week that at the end of June, major investor Gibson Brands became the largest shareholder for the first time since its relationship with the Osaka-based manufacturer of higher-quality electronics began in 2012. This small announcement portends a potentially significant change in the relationship between the two entities.

See more on this news out of Japan about Gibson and Onkyo… [Read more…] about Gibson Brands Takes Control of Onkyo Corp.

Gibson Brands Hires New COO, Hit With Another Credit Downgrade

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Photo of Lee Cheng

Gibson Brands announced Tuesday that it has hired Lee Cheng as its new Chief Operating Officer (COO) and executive vice president. This appointment takes effect immediately and follows a recent additional credit downgrade by the Moody’s Investor Service.

See more on Cheng’s interesting background and the Moody’s downgrade… [Read more…] about Gibson Brands Hires New COO, Hit With Another Credit Downgrade

Moody’s Downgrades Gibson Brands Credit to Junk

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Gibson Brands CEO Responds to Moody’s Downgrade

Photo of Gibson busThe music industry is positively buzzing about the announcement late last week by Moody’s Investors Service that, for the second time in three months, it has downgraded the credit rating of Nashville, Tennessee-based Gibson Brands. Gibson (formerly Gibson Guitars) is a tightly held private company that launched an aggressive diversification strategy a few years ago, focusing on acquiring several consumer electronics brands such as Onkyo Corp. and Teac, Corp. and recently Philips.

Now Moody’s suggests the debt used to acquire these brands is dragging the company down… [Read more…] about Moody’s Downgrades Gibson Brands Credit to Junk

Gibson Brands Opens Showroom in Tokyo

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Photo of exterior of Gibson's Tokyo ShowroomGibson Brands (née Gibson Guitars) announced last week that it has opened a showroom in Tokyo, Japan that it calls a “pioneering music lifestyle concept showroom.” Although Gibson Brands owns many different brands, this particular showroom focuses on just three of them: Gibson Guitars, TEAC and Onkyo.

See more on this unique showroom… [Read more…] about Gibson Brands Opens Showroom in Tokyo

Oops! I Did It Again – Gibson Brands Buys Accessory-Maker WOOX from Philips

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WOOX logoOops, they did it again (to quote pop icon Brittney Spears) – Gibson Brands has acquired WOOX Innovations, a Singapore-based brand of accessory products, from owner Royal Philips, N.V., according to an announcement from Philips earlier this week. Another in a line of acquisitions in the consumer electronics space by Gibson, WOOX brings in a complementary line of products and international distribution into its portfolio. This is the second attempt to sell the division by Philips, who had a deal with Funai fall through late last year, resulting in legal action.

See more on this deal, including what it means for both companies… [Read more…] about Oops! I Did It Again – Gibson Brands Buys Accessory-Maker WOOX from Philips

Niche Speaker Manufacturer Cabasse Appoints Integra as U.S. Distributor

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Integra_Black_HighRes2In a brief announcement today, Cabasse – a French loudspeaker manufacturer with a small niche following here in the U.S. – announced that it has appointed electronics brand Integra as its “exclusive” distributor for the United States. This new relationship takes effect retroactively to March 1, 2014.

See more on this announcement which some industry observers found strange… [Read more…] about Niche Speaker Manufacturer Cabasse Appoints Integra as U.S. Distributor

Gibson Brands Goes ‘Back to the Future’ to Celebrate 120 Years

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Photo of Gibson CES Promo

Gibson Brands took advantage of the Consumer Electronics Show in Las Vegas to make a bit of a show of their own to celebrate 120 years in business. The company, which serves up 23 different brands of musical instruments, professional audio products and, more recently, consumer electronics products, chose a unique way to mark the occasion by going “Back to the Future.”

See more on how Gibson chose to celebrate their 120-year anniversary… [Read more…] about Gibson Brands Goes ‘Back to the Future’ to Celebrate 120 Years

Gibson Brands Strikes Again – Seeks to Acquire Cakewalk from Roland

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Logo for Gibson BrandsGibson Brands announced this week that it it has signed a letter of intent with Roland Corp. and Cakewalk, Inc. to acquire Cakewalk Inc., a music software company, for an undisclosed amount. The deal is pursuant to the successful negotiation and execution of a definitive agreement.

And with acquisition, Gibson says it will launch a new brand, Tascam Professional Software to sell the Cakewalk product line. See more on this acquisition below… [Read more…] about Gibson Brands Strikes Again – Seeks to Acquire Cakewalk from Roland