Vic Firth and Zildjian Merge

[Jeffe77]

http://www.vicfirth.com/families-unite/

December 20th, 2010 - Boston, MA It was announced today that the Vic Firth Company, the global market leader in drumsticks, will merge with the world's leading cymbal manufacturer, the Avedis Zildjian Company, effective immediately. Both New England-based, family-owned companies are well respected legacy brands in the music industry with a long tradition of product quality and innovation.

"I have the greatest respect for Zildjian," said Vic Firth, President, Vic Firth Company. "Our businesses share common values, a passion for manufacturing, and a similar approach to how we do business. This union represents a unique opportunity to leverage our respective leadership positions in the drumstick and cymbal categories. I look forward to years of growth and newfound success."

Zildjian CEO Craigie Zildjian said, "Zildjian is honored to join forces with the Vic Firth Company which has set the standard for drumsticks in the music industry. Similarities in our cultures and business philosophies, coupled with a shared dedication to product and service excellence, provide a strong foundation for the union of our two companies. Both companies will continue to run autonomously. In fact, our customers should notice no difference in the way business is conducted moving forward."

Your Thoughts?

[Jeff Ream]

a good thing. two great companies combining forces. and now Z will stop making horrible sticks

[mobrien]

Firth has always made the Zildjian sticks.

It's a very good move for both brands, since they can start combining marketing costs and offer more attractive brand bundling to their retailers. On top of the D'Addario (Evans) purchase of Pro-Mark last week, looks like we're seeing some smart consolidations in the whole accessories end of the business.

Edited December 20, 2010 by mobrien

[MikeN]

I didn't know D'Addario bought PM. Interesting.

On the surface, it doesn't seem like there's a whole lot of overlap there, but it does make sense from a corporate perspective, especially as they're both selling to the exact same markets.

Mike

[Piper]

It sounds like more of a business agreement or joint venture than an actual merger.

[jonnyboy]

I wonder why they merged? One or both businesses in trouble? I'm wondering if the merger will put the companies in position to increase the product line (drums?). Who knows. I really like it when companies get bigger and bigger lose touch.....it leaves voids in the market for the small start up biz.

I also wonder what shake ups we'll see when it comes to endorsers. Many percussionists endorsed by Zildjian choose from any number of drum stick companies. Might be a great move to squeeze some artists/corps that use Innovative sticks or Promark sticks over to the Vic Firth side of things. We'll see.