PUBLISHED TUE, NOV 19 2024
Bose buys McIntosh
Bose Corp. will purchase the McIntosh Group, a deal that will give the Massachusetts-based company control of one of the most storied names in high-end audio.
McIntosh will continue to manufacture the high-end audio equipment it is known for out of its longtime headquarters in New York, Bose CEO Lila Snyder said.
The deal also includes Sonus Faber, a company that makes high-end speakers by hand in Italy.
The purchase of the two audio workshops provides Bose access into the high-end luxury audio market, Snyder told CNBC in an interview.
“There is this opportunity for luxury, where the consumer is more discerning, really interested in the heritage and the story, and that handcrafted nature,” she said.
Snyder, who took over as Bose CEO in 2020, did not provide terms or a price for the deal.
McIntosh was previously owned by Highlander Partners, a Dallas-based private equity firm.
McIntosh has been making high-end amplifiers and other audio equipment since 1949, and one of its devices can cost tens of thousands of dollars.
Sonus Faber sells a pair of speakers that costs $140,000.
The purchase shows how Bose is navigating an environment where there is more competition in headphones and audio electronics than ever.
Bose is privately held and doesn’t share annual revenue, although it had about $3 billion in sales in 2023, according to Forbes.
It has about 3,000 employees.
Bose buys McIntosh
Bose Corp. will purchase the McIntosh Group, a deal that will give the Massachusetts-based company control of one of the most storied names in high-end audio.
McIntosh will continue to manufacture the high-end audio equipment it is known for out of its longtime headquarters in New York, Bose CEO Lila Snyder said.
The deal also includes Sonus Faber, a company that makes high-end speakers by hand in Italy.
The purchase of the two audio workshops provides Bose access into the high-end luxury audio market, Snyder told CNBC in an interview.
“There is this opportunity for luxury, where the consumer is more discerning, really interested in the heritage and the story, and that handcrafted nature,” she said.
Snyder, who took over as Bose CEO in 2020, did not provide terms or a price for the deal.
McIntosh was previously owned by Highlander Partners, a Dallas-based private equity firm.
McIntosh has been making high-end amplifiers and other audio equipment since 1949, and one of its devices can cost tens of thousands of dollars.
Sonus Faber sells a pair of speakers that costs $140,000.
The purchase shows how Bose is navigating an environment where there is more competition in headphones and audio electronics than ever.
Bose is privately held and doesn’t share annual revenue, although it had about $3 billion in sales in 2023, according to Forbes.
It has about 3,000 employees.
