Hauppauge, NY–Audiovox has completed its acquisition of Thomson’s Americas consumer electronics accessory business for a total purchase price of approximately $59 million, which includes the working capital adjustment.
Last week, the company acquired the rights to the RCA brand for Consumer Electronics accessories. The acquisition also includes the Recoton, Spikemaster, Ambico and Discwasher brands for use on any products and the Jensen, Advent, Acoustic Research, and Road Gear brands for accessory products. Audiovox already owns Jensen, Advent, Acoustic Research and Road Gear brands for electronics products as part of prior acquisitions.
“We are pleased to have closed on this transaction and believe the assimilation of Thomson’s product lines and personnel into our operations will be seamless, as we sell to many of the same customers and have already taken the steps to streamline our operations in anticipation of this deal,”said Patrick Lavelle, president and CEO of Audiovox. “This acquisition significantly enhances our brand portfolio, strengthens our position in the consumer electronics accessories business and puts us in a better position to generate higher returns for our shareholders.”
For more information, visit www.audiovox.com.