October 29, 2007
Fender to buy Kaman Music Corp.
Kaman Corp. is hearing the music this morning as the company announced it has agreed to sell its subsidiary, Kaman Music Corp., to Fender Musical Instruments Corp. for $117 million. The closing is set to happen by January 1, 2008. KMC owns Ovation Guitars and Toca hand percussion products, Gibraltar Hardware, Genz Benz Amplification and Hamer Guitars. FMIC is known for its Fender guitars, but the company also owns a variety of other guitars, amplifiers and associated products.
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