Guitar Center sales for $1.9 Billion
Our long time friends at Guitar Center, the largest U.S. musical instrument retailer, have agreed to a $1.9 billion cash buyout from private equity firm Bain Capital.
Many people in the music community think that Guitar Center as a privately held company is best. Dolph Rempp, founder of Studio Instrument Rentals, the famous neighbor of Guitar Center’s flagship location in Hollywood, said “they will hire people to grow the company and bring new energy to the company”. Since opening in 2003 Hothouse Rehearsal Studios and Guitar Center have enjoyed a mutually beneficial relationship and we’re looking forward to this new phase in our growth with them. Next time you’re in the studio ask me about the Hothouse discount at Guitar Center.
Guitar Center began in 1959 when former car salesman Wayne Mitchell purchased a small appliance and home organ store in Hollywood. In 1964, Mitchell converted a movie theater next door to his Hollywood shop, and opened his first Guitar Center on Sunset Boulevard. There are more than 210 stores now.
Guitar Center enjoys great brand recognition among musicians nationwide and a loyal customer base. Customers have recently included Jimmy Page and Eric Clapton to a sighting of Courtney Love this past week.
Each store sells a dizzying assortment of guitars, basses, amplifiers, drums, percussion instruments, keyboards and professional audio and recording equipment. Its popular Musician’s Friend website sells musical gear via mail, phone and the web.
Guitar Center aims to boost its number of stores with the deep-pocketed Bain covering the bill. Look for a new Guitar Center near you in 2008.
All the Best
Richard Morales
Hothouse Rehearsal Studios
www.hothousestudios.com
Rehearsal TV
www.RehearsalTV.com
Rehearsal Video
www.RehearsalVIDEO.com
Our long time friends at Guitar Center, the largest U.S. musical instrument retailer, have agreed to a $1.9 billion cash buyout from private equity firm Bain Capital.
Many people in the music community think that Guitar Center as a privately held company is best. Dolph Rempp, founder of Studio Instrument Rentals, the famous neighbor of Guitar Center’s flagship location in Hollywood, said “they will hire people to grow the company and bring new energy to the company”. Since opening in 2003 Hothouse Rehearsal Studios and Guitar Center have enjoyed a mutually beneficial relationship and we’re looking forward to this new phase in our growth with them. Next time you’re in the studio ask me about the Hothouse discount at Guitar Center.
Guitar Center began in 1959 when former car salesman Wayne Mitchell purchased a small appliance and home organ store in Hollywood. In 1964, Mitchell converted a movie theater next door to his Hollywood shop, and opened his first Guitar Center on Sunset Boulevard. There are more than 210 stores now.
Guitar Center enjoys great brand recognition among musicians nationwide and a loyal customer base. Customers have recently included Jimmy Page and Eric Clapton to a sighting of Courtney Love this past week.
Each store sells a dizzying assortment of guitars, basses, amplifiers, drums, percussion instruments, keyboards and professional audio and recording equipment. Its popular Musician’s Friend website sells musical gear via mail, phone and the web.
Guitar Center aims to boost its number of stores with the deep-pocketed Bain covering the bill. Look for a new Guitar Center near you in 2008.
All the Best
Richard Morales
Hothouse Rehearsal Studios
www.hothousestudios.com
Rehearsal TV
www.RehearsalTV.com
Rehearsal Video
www.RehearsalVIDEO.com
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