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Gibson Guitar Announces Acquisition Of Garrison Guitars

United States
NASHVILLE, Tenn., July 03, 2007 — Gibson Guitar, the world’s premier musical instrument manufacturer and leader in music technology announced today its acquisition of Garrison Guitars, a company based in St. John’s Newfoundland, Canada. The acquisition will further Gibson’s expansion in the acoustic guitar market offering a new series of Gibson brand acoustic guitars aimed at the median price point to be introduced at the Summer NAMM convention in Austin, Texas.

Garrison Guitars are crafted using the latest technologies and innovations including the Griffiths Active Bracing System, a revolutionary method of guitar construction that took over six years to perfect. The single unit brace combines all the acoustic guitar’s top braces into a single unit and allows for the resonance to have an uninterrupted path of travel throughout the instrument and provides enhanced structural stability. Offering a range of instruments in all price points, the G Series features all solid woods, hard shell cases, bolt on necks and UV finishes in a variety of wood combinations. The AG Series offers an affordable line using the patented bracing system technology. The company also manufacturers all solid wood mandolins and mandolas in its 20,000 square foot facility in Canada.

Garrison will join the historic division of Gibson Acoustic guitars offering top quality acoustic performance instruments along with superb craftsmanship. The acquisition allows for Gibson Guitar to offer musical enthusiasts around the world the best acoustic guitar in every major price point. The company’s portfolio includes Gibson Acoustic guitars built in Bozeman, Montana, Epiphone acoustic guitars and Garrison acoustic guitars. The company plans on shipping the new Garrison acoustic guitars by August of 2007 and will be Gibson branded.

“We are very excited about the recent acquisition of Garrison Guitars and welcome the entire Garrison family to ours,” said Henry Juszkiewicz, Chairman and CEO of Gibson Guitar. “This strategic move will give our consumers several new offerings of Gibson acoustic guitars in price ranges which also provide quality, craftsmanship and sound that only a true Gibson acoustic guitar can offer. We will continue to work with its founder, Chris Griffiths and expect the popularity of these acoustic guitars to have many musicians worldwide striking a new chord.”

“My co-workers and I are extremely excited about our new beginning as the newest edition to the Gibson family of brands. Being a part of Gibson allows us to do so much more than we could have achieved on our own. Furthermore, Gibson’s reputation for strong community involvement and the expansion and new job creation is sure to impress everyone here in St. John’s, who have supported us so well over the years,” said Chris Griffiths, Garrison founder.

The Garrison factory is being retrofitted to produce the new Gibson guitar models and will create over 40 new permanent full time positions to keep up with the demand. Gibson is also investing in new equipment and technologies so that further expansion, which is anticipated, can be considered at the location. The terms of the acquisition were not disclosed.

About Garrison Guitars:

Founded by Chris Griffiths of St. John’s Newfoundland, Canada in 1999, Garrison Guitars was born to commercialize a revolutionary new bracing system called the Griffiths Active Bracing System. In early 2001, Garrison Guitars opened an acoustic guitar manufacturing company in Canada tooled with the latest robotics, laser cutting, cnc milling and UV finishing. The 20,000 square foot factory produced orders for distribution in North America, Australia, United Kingdom, Norway, Germany, the Netherlands, Spain, China, Japan and Canada. Garrison Guitars was awarded a “Golden Axe Award” for Best Value by Harmony Central in 2000. In addition, Garrison Guitars and its founder have won over 14 different awards for innovation, business planning, export growth, leadership and entrepreneurship.

About Gibson Guitar:

Gibson is known worldwide for producing classic models in every major style of fretted instrument, including acoustic and electric guitars, mandolins, and banjos. Gibson’s HD.6X-PRO Digital Guitar represents the biggest advance in electric guitar design in over 70 years. Founded in 1894 in Kalamazoo, Michigan, and headquartered in Nashville since 1984, Gibson Guitar Corp.’s family of brands now includes Epiphone, Dobro, Maestro, Kramer, Steinberger, Tobias, Echoplex, Electar, Flatiron, Garrison, Gibson Baldwin Music Education, Slingerland, Valley Arts, Maestro, Oberheim, Sunshine Piano, Take Anywhere Technology, Baldwin, J&C Fischer, Chickering, Hamilton, and Wurlitzer.
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