D&M Holdings Inc.
D&M Holdings Inc. announced Friday that it is reorganizing the sales and marketing operations of several of its brands, D&M sales and marketing president Bob Weissburg said. Under the plan, Joe Stinziano will oversee the U.S. sales and marketing operations for both Denon Electronics and Boston Acoustics. In addition Steve Mulnick, the company’s director of domestic sales & marketing, will now oversee the sales and marketing operations of both Snell Acoustics and McIntosh Laboratory. D&M also said that Phil Cohn will oversee marketing and sales for the Marantz and Escient brands while Paul Tamberelli, working under Cohn, will be Escient’s national sales
The private equity firm that until recently owned D&M Holdings is planning a return to the CE game. According to a report issued Thursday by the Stratecon Group, Ripplewood Holdings is preparing a bid to acquire the South Korean Daewoo Electronics Co. Ripplewood is competing with an unnamed Russian investor over Daewoo, according to Stratecon. The creditors who currently own Daewoo are expected to choose a “preferred” bidder by Monday.
Bain Capital’s acquisition of D&M Holdings is being done without any involvement from Kenwood, contrary to media reports, Bain said in a statement Tuesday. “In response to speculation regarding the anticipated tender offer for D&M Holdings,” the statement read, “Bain Capital would like to clarify that Kenwood is not an investor in the proposed transaction, and there are no discussions or plans regarding a future alliance with D&M at this time.”
The auctioning off of electronics brand D&M Holdings came to an end Friday when the entire company- not merely that 49 percent previously for sale- was acquired by Bain Capital Partners LLC for the equivalent of $441 million, Bloomberg News reported. U.S.-based Bain will purchase RHJ International’s 49 percent stake, and buy the rest of the company outright through a tender offer, Bloomberg said. The company will then be delisted and taken private. D&M, producer of Denon, Marantz, Boston Acoustics, Snell Acoustics and other brands, was put up for sale earlier this spring. What do you think about this deal? Talk about
D&M Holdings has laid off “dozens” of employees from its Boston Acoustics division, as rumors swirl about D&M’s possible sale. That’s according to a report by the Stratecon Group that was released Monday. Stratecon quoted a D&M spokesperson as saying the layoffs affected about 30 employees, with more than 100 remaining. The spokeswoman, Gail Petersen, denied that the layoffs had anything to do with a potential sale. What do you think about D&M doing this? Talk about it in the CustomRetailer forums.
Another day, another new bidder for D&M Holdings. The Stratecon Group reported Tuesday, citing Japanese news service Nikkei, that Kenwood has teamed up with Bain Capital to make a bid for D&M, a 49 percent stake of which is being auctioned off by RHJ International. Stratecon added that final bidding is expected to take place in mid-May, and that the four “finalists” are Best Buy, the Bain/Kenwood group, Merrill Lynch, and Advantage Partners LLP. Who do you think will win the bidding? Talk about it in the CustomRetailer forums
Best Buy has emerged has a potential bidder for D&M Holdings, the Stratecon Group said late last week, citing a report from the Japanese news service JCN Network. In addition, a pair of private equity firms haave jumped into the bidding for the company, Reuters reported Friday. Bain Capital and Advantage Partners have both joined the bidding for the 49 percent of the company being auctioned off by holding company RHJ International. Merrill Lynch’s private equity arm is said to be in the running as well, as is Harman International, according to reports last month. However, the Stratecon Group reported that Harman is no
Harman International has made a bid to purchase D&M Holdings, its Japanese rival, in a move that would put it in control of a significant share of the global audio accessories market. According to the Japanese news service the Jiji Press, the bid was made on Friday, and amounts to 70 billion yen ($700 million in U.S. dollars.) Harman is seeking to purchase the 49 percent interest in D&M presently held by RHJ International, which issued an “invitation for tenders.” Philips Electronics is also seeking to sell its 12 percent stake in the company. The news of the bid sent D&M’s stock
Reuters reported today that RHJ International, an investment fund, plans to dump its roughly 49 percent stake in D&M Holdings, parent company of Denon, Marantz and McIntosh. Reuters said it based its report on three financial sources familiar with the matter. D&M has a market value of about $265 million, which would put RHJ’s stake in the company at about $130 million, Reuters reported. “RHJ is likely to auction D&M, as a number of funds are expressing interest in the deal,” Reuters quoted one source whom the news agency said was briefed on the deal. D&M, after the reports began appearing Thursday