Rumours that Bose was set to make an acquisition have been confirmed with the US audio brand acquiring high end audio Company the MacIntosh Group whose Sonus Faber and MacIntosh products are sold in Australia by Synergy Audio.
Several weeks ago, speculation had it that Bose was in play either via a sell down of their ownership or were looking for an acquisition.
At one stage we were told that the Company had taken a look at Masimo Consumer and the Bowers and Wilkins, Denon and Marantz brands.
During the heights of COVID the MacIntosh Group was acquired by Highlander Partners, a US private equity firm.
According to the press release, this acquisition will allow Bose to infuse its industry-leading audio research and technology into the high-performance and luxury space.
In addition, the combined forces of Bose and McIntosh Group also opens new opportunities in the automotive sector. Bose already has 40-plus years of experience in automotive audio, while McIntosh has recently ventured into car audio with Jeep and Sonus faber has released premium audio systems with Maserati and Lamborghini.
Highlander Partners claims that McIntosh Group has been a leader and innovator in the high-end audio category for decades and despite manufacturing what they claim are the world’s finest amplifiers, speakers, turntables and other audio products under several renowned brands, they have not said why they sold out of the business after just two years of ownership.
Last month there was speculation that parts of the Bose business were set to be sold as the business struggled to grow share in the consumer market despite have an excellent range of headphones.
Currently the majority owner of Bose Corporation is the Massachusetts Institute of Technology. Non-voting shares were donated to MIT by founder Amar Bose and receives cash dividends.
Back in 2021 Bose had sales of around US$3.2 billion.
The MacIntosh Group is anchored by the legendary McIntosh brand.
Since 1949, McIntosh amplifiers have been engineered and handcrafted in Binghamton, New York and have undergone an incredible history, having powered events ranging from presidential inaugurations to Woodstock ‘69.
McIntosh amps are globally renowned both for their iconic signature design – classic tubes, knobs and the beloved blue metered faceplate – as well as their unparalleled, powerful audio quality.
Another part of the Group is Sonus Faber, a luxury designer and manufacturer of premium speakers.
Based in Vicenza, Italy, the brand’s heritage centres around its artisans’ craftsmanship.
Sonus Faber has a range of products spanning from speakers to custom installed solutions and cutting-edge wireless streaming speakers.
It’s believed that the McIntosh Group that provides fully integrated distribution services across North America, Central and South America, the United Kingdom, and Australia for their own brands.
They also distribute several third-party brands including Pro-Ject (premium turntables), Rotel (premium amplifiers and electronics), and Bassocontinuo (Italian-crafted audio racks) into several markets excluding Australia.
The Group also boasts a thriving automotive entertainment business, providing audio technology for select premium models, including the Grand Wagoneer and Jeep Grand Cherokee L under the McIntosh brand and the Maserati Grecale and MC20 under Sonus Faber.
At this stage it’s not clear the extent to which Bose will try to reshape and expand the MacIntosh Group.
According to Bose’s CEO Lila Synder, Bose wants to keep McIntosh manufacturing high-end products from its New York headquarters.
Bose Corp is also using the takeover as a way to break into more diverse markets, not simply those which are more economically rarefied.
According to Synder: “With McIntosh Group in our portfolio, we can unlock even more ways to bring music to life in the home, on-the-go and in the car.”.
She added “Over the last six decades we’ve delivered the best premium audio experiences possible”.
“Bose’s dedication to research and singular focus on audio provides a tremendous opportunity to complement and enable our own pursuit of delivering inimitable, ultimate-quality audio experiences,” said Daniel Pidgeon, CEO of McIntosh Group. “Gaining access to their expertise as a pioneer in automotive audio will also help us accelerate our presence and enable us to deliver solutions that are commensurate with our reputation and performance standards.”
