Premium Audio Company (PAC) has announced that it, along with Sharp Corporation, created a joint venture and has acquired Onkyo’s home audio/video business, which includes the Onkyo and Integra brands.
PAC now owns approximately 75 percent of the newly created joint venture and will manage all product development, engineering, sales, marketing, and distribution of Onkyo’s home entertainment business. Sharp will continue to manufacture the products in its Malaysian plant, as they have in the past, and focus on scaling its manufacturing lines and managing the supply chain to handle more anticipated production volume.
Expanding its portfolio even further, VOXX has signed a licensing agreement with Pioneer Corporation. Premium Audio Company will now market and sell the Pioneer and Pioneer Elite audio/video solutions worldwide, excluding the Peoples Republic of China, with manufacturing done by Sharp.
“Premium Audio Company, VOXX, Onkyo, and Sharp worked together to complete a complicated asset acquisition,” says Paul Jacobs, president and CEO of Premium Audio Company. “It is a strong statement about the power of this newly formed alliance. Combining the number one speaker brand in the world with the most technically sophisticated Japanese electronics brands ushers in a new era of design, innovation, and performance. We look forward to another 75 years of creating industry-leading products, profitability for our partners, and connecting people to their passion for entertainment.”
Established in 2020, Premium Audio Company is comprised of three subsidiaries and include brands such as Klipsch, Jamo, Mirage, ProMedia, Magnat, Heco, Mac Audio, Onkyo, Pioneer, Pioneer Elite, Integra, Teac, and Esoteric.
For more information, visit https://www.voxxintl.com/consumer.