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Post subject: Fender sold Guild !
Posted: Wed May 07, 2014 3:55 am
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I am very surprised by this announcement. I really liked the new acoustics and also the electric guitars they did in the past year. I hope there is a bright future for Guild. :(

FENDER MUSICAL INSTRUMENTS CORPORATION ANNOUNCES INTENT TO SELL GUILD® BRAND TO CORDOBA MUSIC GROUP

SCOTTSDALE, Ariz. (May 6, 2014) – Fender Musical Instruments Corporation (FMIC) announced today that it has finalized a letter of intent to sell the Guild guitar brand and related assets to Cordoba Music Group, the manufacturer of Cordoba acoustic guitars, ukuleles and accessories.

“It was important for us to find a great steward to continue the important legacy of Guild guitars,” said FMIC’s interim CEO and board member Scott Gilbertson. “We have found a great fit in Cordoba Music Group, a company committed to quality and with impressive U.S.-based production capabilities.”

“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,” said Cordoba Music Group President Jonathan Thomas. “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.”

Sales of Guild guitars will continue as usual during the transition process. Upon finalization of the sale, Cordoba Music Group is expected to begin production in Oxnard, Calif. FMIC recently announced the closing of Guild’s U.S. manufacturing facility in New Hartford, Conn.

Guild was founded in New York in 1953 by Alfred Dronge and the company’s excellence in acoustic guitar design made the name synonymous with acoustic quality and craftsmanship throughout the ensuing decades. Guild joined the FMIC family in 1995, combining it with modern design to produce new generations of guitars that remain highly sought-after instruments.

# # #

About Fender Musical Instruments Corporation: Fender Musical Instruments Corporation (FMIC) is one of the world’s leading musical instrument manufacturers, marketers and distributors, whose portfolio of brands includes Fender®, Squier®, Gretsch®, Jackson®, Takamine®, Guild®, EVH®, Ovation®, Charvel® and Groove Tubes®, among others. For more information, visit http://www.fender.com.

About Cordoba Music Group: Cordoba Music Group (CMG) is a musical instrument manufacturer and distributor specializing in acoustic guitars and related accessories. CMG owns and operates the Cordoba brand, the industry’s leading nylon string acoustic guitar brand, and handles U.S. distribution for Savarez®, Aquila®, and HumiCase®. For more information, visit http://www.cordobaguitars.com.


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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 5:05 am
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56Strat wrote:
I am very surprised by this announcement. I really liked the new acoustics and also the electric guitars they did in the past year. I hope there is a bright future for Guild. :(

FENDER MUSICAL INSTRUMENTS CORPORATION ANNOUNCES INTENT TO SELL GUILD® BRAND TO CORDOBA MUSIC GROUP

SCOTTSDALE, Ariz. (May 6, 2014) – Fender Musical Instruments Corporation (FMIC) announced today that it has finalized a letter of intent to sell the Guild guitar brand and related assets to Cordoba Music Group, the manufacturer of Cordoba acoustic guitars, ukuleles and accessories.

“It was important for us to find a great steward to continue the important legacy of Guild guitars,” said FMIC’s interim CEO and board member Scott Gilbertson. “We have found a great fit in Cordoba Music Group, a company committed to quality and with impressive U.S.-based production capabilities.”

“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,” said Cordoba Music Group President Jonathan Thomas. “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.”

Sales of Guild guitars will continue as usual during the transition process. Upon finalization of the sale, Cordoba Music Group is expected to begin production in Oxnard, Calif. FMIC recently announced the closing of Guild’s U.S. manufacturing facility in New Hartford, Conn.

Guild was founded in New York in 1953 by Alfred Dronge and the company’s excellence in acoustic guitar design made the name synonymous with acoustic quality and craftsmanship throughout the ensuing decades. Guild joined the FMIC family in 1995, combining it with modern design to produce new generations of guitars that remain highly sought-after instruments.

# # #

About Fender Musical Instruments Corporation: Fender Musical Instruments Corporation (FMIC) is one of the world’s leading musical instrument manufacturers, marketers and distributors, whose portfolio of brands includes Fender®, Squier®, Gretsch®, Jackson®, Takamine®, Guild®, EVH®, Ovation®, Charvel® and Groove Tubes®, among others. For more information, visit http://www.fender.com.

About Cordoba Music Group: Cordoba Music Group (CMG) is a musical instrument manufacturer and distributor specializing in acoustic guitars and related accessories. CMG owns and operates the Cordoba brand, the industry’s leading nylon string acoustic guitar brand, and handles U.S. distribution for Savarez®, Aquila®, and HumiCase®. For more information, visit http://www.cordobaguitars.com.


I'm sure there are solid numbers behind the sale, but I have to be honest. I'd have rather seen Takamine, EVH, Ovation, Charvel, and Jackson go. I really thought Guild could have helped Fender step up their acoustic game a lot. Something that has always been a little lacking, honestly.

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 5:32 am
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Looks like the butcher is cutting some fat off the business. It's a common sight when you see a business in trouble. I can also bet they will downscale USA production. So get em while you can :shock:

If you ask me, I've said it previously in recent posts- I saw it coming a mile away.


The writing is on the wall- Expect more to come..

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 5:34 am
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+1 I think we might see lines cut everywhere. I can't see the American Special line making the cut, honestly.

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 5:46 am
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Yeah I'm in full agreement with you on that. Considering how many American Standards are out there, I wouldn't be surprised if that line suffers -even temporarily. If GC lays their cards on the table and calls it a day, there's gonna be a sea of them out there from other dealers buying up cheap liquidated GC stock.

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 5:58 am
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Blertles wrote:
Yeah I'm in full agreement with you on that. Considering how many American Standards are out there, I wouldn't be surprised if that line suffers -even temporarily. If GC lays their cards on the table and calls it a day, there's gonna be a sea of them out there from other dealers buying up cheap liquidated GC stock.



I wish they would do it as a public "blowout" clearance sale. GC has some really, really nice AVS and CS basses both new and used I wouldn't mind scooping up. :wink:

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 6:11 am
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I'm a bit upset.

Guild is tied with Fender as my favorite brand, and I think it's a bit of a mistake to get rid of a company that really is such an icon. Much like with Fender, you can look at a Guild and tell it's going to sound good. Their acoustics really are top notch and full of rich sound.

My first USA made guitar is a Guild. I cherish it, and I wish the company well. Maybe they'll bring back their old solid bodied lineups with the same high standard of quality.

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 6:13 am
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I have to ask, though. If Fender is in trouble and is selling their companies off, what happens if Fender gets to the point where it has to sell it self?

Does the captain go down with the ship?

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 6:52 am
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Buxom wrote:
Does the captain go down with the ship?

As we have so tragically seen in the news lately, these days, the captain leaves on the first boat.

That Fender's CEO just left may or may not be an indication of something. Do your own digging and draw your own conclusions.


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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 7:04 am
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I'd think if Fender is handled well it will make an effort to trim the fat internally while divesting some of it's brands. Keeping Squier as it's budget model (Which needs to be trimmed WAAAAAYYY back along with import Fender and the lower end domestic Fender Product) Keeping Gretsch as it's honestly the mainstream alternative to Gibson and it's a great brand. (Also, Fender proper needs to stop trying to wh*re itself to Gibson players. Make good Fenders stop trying to be a knock off brand) Then I'd say keep Grove Tubes if it's doing well. Otherwise, let it go, as well.

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 8:24 am
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This is only going to get worse. With Fenders largest customer, GC, staring at an uncertain future, read "circling the drain", I'm afraid many of the small companies and divisions of larger ones are going to take the brunt of restructuring, including, but not limited to Fender. If they can't sell it they won't build it. And, what they do build will have to be built cheaper. High end instruments are becoming more and more out of reach for the average buyer. Disposable income for the average consumer has taken a big hit. As musicians we will also take the hit, fewer choices, higher prices. Time for some rose colored glasses.

Tom

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 8:36 am
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I wish I still had my old Guild Aristocrat.

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 8:45 am
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Enough of the Doom & Gloom negativity! It just makes good sense to sell an asset rather than just shut it down and put it on the shelf like SWR and Genz Benz. This is a Win-Win-Win-Win situation for: FMIC; Guild, Cordoba, and the American worker as highly skilled well paid jobs stay here and an iconic American brand continues to live. I wish Cordoba all the best, and that Guild will thrive.

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 8:47 am
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I used to have some really cool Guild Pilot basses I wish I still had. Hindsight is always 20/20

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Post subject: Re: Fender sold Guild !
Posted: Wed May 07, 2014 8:53 am
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linnin wrote:
Enough of the Doom & Gloom negativity! It just makes good sense to sell an asset rather than just shut it down and put it on the shelf like SWR and Genz Benz. This is a Win-Win-Win-Win situation for: FMIC; Guild, Cordoba, and the American worker as highly skilled well paid jobs stay here and an iconic American brand continues to live. I wish Cordoba all the best, and that Guild will thrive.


I wish they had added Tacoma to the deal too - it's downright saddening to see a good brand being shelved like that. Why does Fender keep it? For patent trolling purposes?


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