Canadian distributor Lenbrook, the owner of speaker-maker PSB, will add audio electronics supplier NAD to the corporate fold on May 3, when NAD's acquisition from Denmark's AudioNord International is expected to close.
Toronto-based Lenbrook already distributes and markets NAD products throughout North and South America.
The purchase won't be the first acquisition contemplated by Lenbrook. Last year, the company announced plans to buy high-end audio supplier Sonic Frontiers International, which markets the Sonic Frontiers and Anthem brands, but backed out after determining the acquisition would have required a larger investment than previously thought.
This year's purchase will include NAD's trademark and intellectual and marketing properties. When it's concluded, Lenbrook will assume responsibilities for worldwide marketing and product development, but AudioNord will distribute and market the products in Scandinavia, Germany and the Benelux region.
Denmark-based AudioNord, which has been NAD's principal owner since the early 1990s, manufactures and markets DALI brand speakers in Europe, markets NAD to retailers in Germany and the Benelux region, and operates retail stores under the HiFi Klubben name in Denmark, Finland, Norway and Sweden.
Bob Brown will be named NAD's managing director, having headed up Lenbrook's U.S. operations and served as past president of NAD's U.S. subsidiary. Neil Wilson, former worldwide sales director for KEF, will become NAD's international sales and marketing director.
The changes follow a 1997 NAD reorganization intended to streamline operations to free up money for more investment in R&D. At that time, worldwide sales and administration functions were relocated to NAD's distribution center in Denmark, and the company added two new R&D facilities, in China and Denmark, to complement an existing R&D facility in England and another one in the U.S.