Fender Sells Guild Brand to Cordoba
Cordoba Music Group announces intent to purchase the Guild guitar brand from Fender.
Fender Ends Ovation USA Production
This announcement comes after the news of Fender halting the production of US made Ovation guitars, another brand that Fender acquired.
It appears that negotiations are well on its way, and Cordoba has already finalized their letter of intent to purchase Guild.
With this announcement, the closure of the New Hartford, Connecticut facility is making more sense. Fender Musical Instruments Corp (FMIC) scheduled to close down the facility because they were already negotiating sell Guild and move its USA operation is moving to Cordoba's factory in Oxnard, California.
At least Fender did not just close down Guild like they did Hamer, so there may still be hope for the Guild brand.
FMIC’s interim CEO and board member Scott Gilbertson says, "It was important for us to find a great steward to continue the important legacy of Guild guitars. We have found a great fit in Cordoba Music Group, a company committed to quality and with impressive U.S.-based production capabilities."
According to the official press release, Guild guitars will continue to be sold by Fender during the transition process. Upon finalization of the sale, Cordoba Music Group will begin producing Guild guitars in their factory at Oxnard, Calif.
It is unfortunate that the once great Guild brand, which successfully competed with Martin Guitars in the '60s, ends up being passed around by bigger guitar companies. They were acquired by Fender in 1995 and continued to produce various acoustic and electric guitar models until today. Soon Guild will be under Cordoba, who promises to grow the American brand. I expect that Guild guitars will allow Cordoba to compete in the steel string acoustic guitar market, while the Cordoba brand continues developing nylon string guitars.
Cordoba Music Group President Jon Thomas says, "Guild is an iconic American brand with a rich heritage and we’re truly excited and honored to be the ones to move it forward. It’s a great complement to our current position in the acoustic guitar market and provides opportunities for growth in new categories. We will continue to make instruments of exceptional quality in the USA, and look forward to giving one of the industry’s great American brands a new home."
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