Fender Musical Instruments Corporation (FMIC) announced today that its subsidiary KMC Music, Inc. has sold its Ovation guitar brand along with all of its percussion brands, including Gretsch Drums and Gibraltar Hardware, to Drum Workshop, Inc., the manufacturer of DW drums, hardware, and accessories.
“We are extremely proud of our team’s effort to nurture and grow each of the individual brands and are enthusiastic for their future,” said FMIC’s interim CEO and board member Scott Gilbertson. “We recognize the strategic opportunity for DW and are confident that they will be champions of the brands moving forward.”
“This is an amazing opportunity to extend our passion and commitment for the art of drumming,” said Chris Lombardi, CEO of Drum Workshop, Inc. “We’re excited to welcome these legendary American brands to the DW family.”
Financial and other terms of the deal were not disclosed.