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McIntosh Herded Into Denon, Marantz Stable

3/11/2003 12:33:00 PM Eastern

Tokyo - D&M Holdings, owner of Denon and Marantz, agreed to acquire McIntosh Laboratory from Clarion Corp. of America.

Financial terms were not disclosed.

The 53-year-old McIntosh, based in Binghamton, N.Y., has annual revenues of about $25 million in high-end home and car audio products, D&M said.

D&M said McIntosh's sales and marketing operations will remain separate from those of Denon and Marantz.

McIntosh brings 'an exclusive worldwide dealer network that will yield synergies with our current distribution channels,' said Tatsuo Kabumoto, D&M's president/CEO.

'This acquisition is consistent with the company's strategy to consolidate the premium audio/video industry through acquisitions.'

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