Eighteen Sound acquires fellow Italian brand Ciare9 December 2015
Loudspeaker component manufacturer Eighteen Sound Srl of Reggio Emilia, has purchased fellow Italian brand Ciare of Senigallia for an undisclosed fee.
The announcement today reveals the imminent endgame of a process that began in the summer, when Eighteen Sound announced a “strategic agreement” with Ciare, enabling it to take “control” of the worldwide sales of the Adriatic coast-based loudspeaker maker.
The purchase takes effect immediately and broadens the scope of the Eighteen Sound product line in the mid-level market segment, particularly in the realms of hi-fi and replacement/upgrade automotive, as well as expanding its access to new global markets.
Director of global sales, Giacomo Previ, said that the acquisition of Ciare was an “interesting opportunity for Eighteen Sound”, while admitting the brand had been “struggling” and had experienced “problems in the past”.
“Eighteen Sound will [henceforth] revitalise and strengthen the brand, while maintaining its focus on the professional audio marketplace.
“The Ciare brand will be maintained autonomously and continue its storied 75-year history while catering to its loyal client following and maintaining its solid performance standards.”
Previ was quick to emphasise that it was the purchase of the Ciare “brand” that is being announced at this time, and that further information regarding manufacturing and production (and the cost of the acquisition) would be released in the New Year after certain outstanding matters had been concluded.
Ciare was founded in 1947 and has built a worldwide client base and product catalogue that provides middle-tier products for the professional and automotive audio markets which, Previ notes, represent a “balance of cost and performance”.
Ciare’s portfolio is said to fit comfortably alongside Eighteen’s catalogue of premium drivers, with little overlap. “Our intention is to grow this significant product base and offer it as a solution to clients of Eighteen Sound that have cost consideration as a primary concern,” said Eighteen Sound’s director of sales for North America, Jeffrey Cox.