Fine Sounds SpA Announces the Acquisition of SUMIKO

SUMIKO Joins Portfolio Which Includes Sonus faber and Wadia.

 

MILAN, ITALY / BERKELEY, CA - Fine Sounds SpA, owner of Sonus faber, Audio Research Corporation and Wadia Digital, announced today that it has acquired 100% of SUMIKO (Vertical Cubed) the Berkeley, CA based distribution company serving the high-end audio trade. The current owners of SUMIKO, Donald Brody and John Hunter, will take seats on the board of Fine Sounds SpA.

SUMIKO will remain the exclusive North America distributor for all its existing lines, which are an extremely complementary mix of prestigious brand names: Sonus faber (loudspeakers), REL (sub-bass systems), Pro-Ject Audio Systems (turntables and electronics), SME (turntables and tonearms), Sumiko Phono Cartridges and Okki Nokki (record cleaning machines). The REL and Wolf Cinema brands are still owned by Messrs. Donald Brody and John Hunter. While REL enters into an agreement to be distributed by Fine Sounds globally, Wolf Cinema will remain independent. Fine Sounds fully supports SUMIKO's commitment to its customers and will continue to operate to their benefit, providing increased training and marketing support to the entire portfolio of brands.

Mauro Grange, the new SUMIKO President remarked, “Fine Sounds views both the USA and China as top priority markets - direct distribution in China is currently managed through Sonus faber Asia and with the SUMIKO acquisition, we now realize direct distribution in North America. Fine Sounds very much appreciates the results that SUMIKO has delivered in the past as Sonus faber’s distributor and look forward to working together to maximize the North American market potential. Our goal is to increase connection with, and responsiveness to, our largest markets.”

Donald Brody and John Hunter said, “We warmly welcome the alliance with Fine Sounds and look forward to the opportunities ahead. As a group we now have much more to offer the high-end specialty dealers who provide the finest in luxury audio to a discriminating clientele.”

About Sumiko:

For over 30 years Sumiko has been manufacturing, importing and distributing the finest music and film sound components in North America. Sumiko is headquartered in Berkeley, California and maintains its own in-field sales, training and support staff. Brands represented include Sonus faber, REL Acoustics, Pro-Ject Audio Systems, SME, Sumiko Analog and Okki Nokki. For additional information visit www.sumikoaudio.net

About Fine Sounds:

Fine Sounds Spa, fully owned by Milan, Italy based private equity fund Quadrivio, is the holding Company controlling Sonus faber, the Vicenza, Italy based leading manufacturer and marketer of High-End Two-Channel loudspeakers, Audio Research Corporation, the Minneapolis, MN based leading manufacturer and marketer of High-End Vacuum-Tube and Solid-State electronic audio components and Wadia Digital a leading manufacturer of high-performance digital audio playback components. Annual revenues of the Fine Sounds group proforma for the recent transactions are in excess of US $30 million, with 120 employees worldwide. Fine Sounds is managed by Galeazzo Scarampi, Chairman (25 years of Private Equity experience in Italy, Asia and USA) and Mauro Grange, CEO (CEO of Sonus faber).

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