D'Addario aquires Pro Mark

[deseipel]

http://www.evansdrumheads.com/EvansNews ... 034&Id=942


FARMINGDALE, NY, December 17, 2010 - D’Addario & Company, Inc., the world’s largest manufacturer of strings for musical instruments as well as numerous other high-quality musical accessories, and Pro-Mark Corporation, manufacturer of first-class drumsticks, brushes, mallets and other percussion accessories, are close to finalizing the terms relating to D’Addario’s proposed purchase of the 53-year old drumstick company.

“This is a key strategic add-on acquisition for us. Pro-Mark’s brand would be a natural complement and extension to D’Addario’s line of products,” comments Jim D’Addario, the Chief Executive Officer of Long Island-based D’Addario. “Furthermore, this potential acquisition provides further diversification of our product offering and would reinforce our commitment to expanding our manufacturing footprint here in America.”

“The sale of Pro-Mark, a family-owned business, to the D’Addario family is practical on both a personal and professional level,” explains Maury Brochstein, Pro-Mark’s Chief Executive Officer. “I’m excited about the opportunity to assist D’Addario with the growth of the Pro-Mark brand. Finalizing this deal with D’Addario will ensure that Pro-Mark’s rich history of creating exceptional products will carry forward into the future with a company famous for its dedication to product innovation and quality. Our customers will also benefit from D’Addario’s unparalleled customer service. This is a win-win situation for all parties.”

“We are fortunate to have the opportunity to purchase a company with such a deep history and prominent position in our industry,” states Rick Drumm, D’Addario’s President. “Much like we have done with our Evans and Rico product lines, we plan to evaluate Pro-Mark’s present capabilities in order to advance its manufacturing operations to state-of-the-art levels. Upon execution of our future agreement, D’Addario’s team of LEAN manufacturing experts will immediately begin a LEAN transformation at the company’s Houston facilities. The changeover to a LEAN culture, coupled with D’Addario’s extensive engineering, marketing, and distribution resources, will afford Pro-Mark new growth opportunities.”

D’Addario and Pro-Mark hope to execute the purchase contract by year’s end.

[YamahaPlayer]

Interesting, I didn't realize ProMark was doing that bad. Then again their market share has been decreasing over the years (and was already small to begin with).

[DSOP]

D’Addario’s team of LEAN manufacturing experts will immediately begin a LEAN transformation at the company’s Houston facilities.

http://en.wikipedia.org/wiki/Lean_manufacturing

[Clint Hopkins]

D’Addario’s team of LEAN manufacturing experts will immediately begin a LEAN transformation at the company’s Houston facilities.

http://en.wikipedia.org/wiki/Lean_manufacturing

If this means no more warped Simon Phillips sticks, I may pick up a pair next year sometime.

[Paul Rivet]

[quote="deseipel"]http://www.evansdrumheads.com/EvansNewsDetail.Page?ActiveId=2034&Id=942

“We are fortunate to have the opportunity to purchase a company with such a deep history and prominent position in our industry,” states Rick Drumm, D’Addario’s President. “Much like we have done with our Evans and Rico product lines, we plan to evaluate Pro-Mark’s present capabilities in order to advance its manufacturing operations to state-of-the-art levels" [quote]

...seriously, the company president's name is Drumm??? how ironic....

[YamahaPlayer]

I predict "ProMark" sticks will be out of business or barely holding a 1% market in 5-8 years. No matter who owns them. D'Addarrio must think they can change that fact, while the owners of ProMark have come to grips with a loosing battle (hence the sell).

[Randy Walker]

Rick Drumm is a great guy and drummer too. He was at Remo for years and Vic Firth before D'addarrio

[Paul Rivet]

Rick Drumm is a great guy and drummer too. He was at Remo for years and Vic Firth before D'addarrio

Everyone should be so ideally suited to their job!

I guess with a name like mine I should be working in a denim factory, or construction! hehehehh

[YamahaPlayer]

Rick Drumm is a great guy and drummer too. He was at Remo for years and Vic Firth before D'addarrio

Everyone should be so ideally suited to their job!

I guess with a name like mine I should be working in a denim factory, or construction! hehehehh

Haha too funny!!!

It would be nice to see like 4 or 6 major competitors in the stick market, but VF just locked it down so hard it'll prob never happen.

Anyone remember Johnny Rabb sticks? I was one of the original endorsers, those were awesome sticks! But alas... still have a box or two of them around.

[JayD]

Anyone hear anything about Vic Firth getting picked up by Zildjian?