No changes planned as Bose Corp. buys New York

Nov. 19 (UPI) - Bose Corp. has bought out McIntosh Group, solidifying its entry into the high-end market with its purchase of one of its industry's most celebrated audio equipment manufacturers.

Over the last six decades, Bose has delivered "premium" audio experiences and with MacIntosh added to its portfolio, "we can unlock even more ways to bring music to life in the home, on-the-go and in the car," Bose CEO Lila Snyder said in a release.

The transaction was finalized on Friday. No changes are expected to take place.

McIntosh Group has been a leader in the high-end audio equipment market for decades, producing amplifiers, speakers, turntables and other audio products as parent company of multiple brands that include McIntosh, Sumiko Phono Cartridges and more.

Headquartered in Binghamton, N.Y., McIntosh was founded in 1949. The Dallas-based Highlander Partners LP first acquired MacIntosh in June 2022.

Highlander's own CEO sung praise on leadership, calling MacIntosh President Charlie Randall and its Group CEO Dan Pidgeon "incredible partners" over the course of Highland's ownership, adding that the two men "allowed the company to continue to flourish."

"We look forward to honoring the heritage of these brands, investing in their future and pushing the boundaries of audio innovation to bring customers experiences they've never heard before," the Bose chief says.

Jeff L. Hull, Highlander Partners' CEO, said Tuesday in a release that the company is "proud" of what it accomplished as its prior owner, adding he believes companies McIntosh and Sonus faber "have tremendous growth potential," he added.

Snyder, who took on the CEO job in 2020, told CNBC the transaction was an "opportunity for luxury" where a consumer is "more discerning, really interested in the heritage and the story, and that handcrafted nature."

Hull later retired Snyder's comments, adding that MacIntosh a "legendary American brand" and its Italy-based Sonus faber is "the definition of fine art in the audio world."

"We are excited to watch these brands reach new heights under Bose's ownership," Hull said.