Fender Musical Instruments Corporation (FMIC) has announced that its subsidiary KMC Music, Inc. 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 FMIC’s interim CEO and board member Scott Gilbertson. “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.
