The British family-owned company behind Marshall amplifiers is being bought by a Swedish maker of Bluetooth speakers.
Marshall, founded by Jim Marshall in London in the 1960s, is being acquired by Zound Industries to create a new business, called Marshall Group.
Zound, which has been selling Marshall-branded speakers and headphones since 2010, says the deal will create “the most exciting audio tech powerhouse”.
Henri de Bodinat, Chairman of Zound Industries, said: “With this game-changing deal, Marshall Group will become the main challenger in our industry and the most exciting alternative to traditional players, bringing even greater innovation and value to clients, employees, and investors alike.”
De Bodinat will chair the new Marshall Group, while the Marshall Family will be the largest shareholders, owning 24% of the new business.
The Marshall shop in London sold musical equipment to young rock musicians such as Pete Townshend and John Entwistle of the Who. Jim Marshall, known as the “Father of Loud,” then moved into building amplifiers with his son Terry.
Beginning with the JTM45, the amplifiers’ distinctive crunch sound became recognisable across scores of British and American blues and rock tunes in the 1960s, the 1970s and beyond, and contemporary models remain popular with guitar students and enthusiasts.
Marshall went on to build large speaker cabinets after Townshend demanded a louder sound. They then went international in 1966, when Jimi Hendrix used them at a gig.