Fender Musical Instruments Corporation announced that it has finalized a letter of intent to sell the Guild guitar brand.
Scottsdale, AZ (May 7, 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.
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