On the heels of another major acquisition announcement, Sound United made public Wednesday morning their acquisition of D+M Group. The union brings together two parent companies that control a number of powerhouse audio brands. Sound United is the umbrella company for Polk Audio, Polk BOOM, and Definitive Technology. They now bring into the fold a strong D+M portfolio that includes Denon, HEOS by Denon, Marantz, and Boston Acoustics.
Sound United, a division of DEI Holdings, is also bringing in a group that is the largest supplier of A/V receivers worldwide.
In a statement, the companies said that the combined organization will be known as Sound United. Kevin Duffy, CEO of Sound United, will serve as the CEO of the combined company moving forward. The sale was finalized on Tuesday, February 28, though the terms of the deal were not disclosed.
“Sound United and the D+M Group employees share a culture of innovation and customer focus. We plan to leverage those core values in the combined company in order to offer consumers and our channel partners a breadth of complementary products while expanding our investments in technology development and marketing,” Duffy said in the statement. “We welcome the addition of the D+M team and are excited to work together to ensure that this strategic combination capitalizes on its global leadership position while also ensuring that each of our individual brands continues to be highly differentiated in the marketplace. Our existing customers and channel partners will benefit from the enhanced breadth and depth of the combined product portfolio, while our strategic suppliers should be well-positioned to expand with us as we grow.”
One executive roll change announced in the statement involves former D+M CEO Jim Caudill. Caudill will drop the CEO title, but he will continue on as an advisor to the consolidated company. In the statement, he said that the sale of D+M is a testament to the group’s employees, the “exceptional brands,” and the work the group accomplished in the audio industry.
“By joining Sound United, we expect to deliver tremendous value to our customers through access to Sound United’s aspirational speaker brands including Polk Audio and Definitive Technology,” said Caudill. “We believe that this transaction will drive compelling opportunities for our employees, customers, and suppliers, and are looking forward to ensuring the success of the new organization.”
Details have yet to be released as to what the transition period will look like or how, specifically, the D+M brands will continue to operate moving forward.