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Baker & McKenzie Represents Gibson Guitar in Onkyo Strategic Alliance.

2 February, 2012

 

Legal News & Analysis – Asia Pacific – Japan

 

 

A cross-border team of Baker & McKenzie attorneys recently represented Gibson Guitar Corp., the legendary maker of guitars and premier audio equipment, in executing a strategic alliance with Onkyo Corporation, a worldwide leader in consumer audio.
 
Through this venture, Gibson became the second largest shareholder in Onkyo Corporation and acquired a majority of Onkyo USA (Onkyo's exclusive distributor for North America and a distributor for Central and South America). Gibson made a strategic investment in the companies, and Gibson Chairman and CEO Henry Juszkiewicz will be given a position on the Onkyo board of directors. Likewise, Onkyo invested in Gibson, and CEO and President Munenori Otsuki took a position on the company's Board of Directors. The deal was announced on January 4, 2012 and closed on January 20, 2012.
 
Through this alliance, Onkyo USA becomes the latest addition to the Gibson Pro Audio division, which already includes KRK, Cerwin-Vega! and Stanton. As part of the alliance, the two companies also agreed to form a Hong Kong-based joint venture focusing on design and development of unparalleled consumer audio products. For more information on the deal, please click here to view Gibson’s press release on the matter. 
 
Baker & McKenzie Tokyo Partners, Alexander R. Jampel and Hitoshi Sumiya, led the Firm’s representation of Gibson in the Japan aspects of the transaction, with assistance from Counsel Haruhiko Ogasawara. Partner Shinichi Kobayashi assisted with tax matters. The Firm’s team in San Francisco was led by Partner Emery D. Mitchell and Tiffany J. Rose, and Associates Justine Belytschko and David C. Rothschild.
 
"This deal fully utilized our integrated cross-border capabilities and resources to execute this complex multijurisdictional transaction." said Mr. Jampel.
 
Mr. Mitchell commented, “This was a fast moving and complex deal, and we are very pleased to have assisted Gibson with this strategically important transaction, which we hope will be a great success for both companies.”
 
For further information, please contact:
 
Osamu Kubota, Assistant Manager, Business Development & Marketing, Baker & McKenzie

 

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