Garmin signs purchase agreement to acquire JL Audio, a highly regarded audio solutions manufacturer
by Garmin 8 Aug 09:20 PDT
JL Audio Mediamaster® 105 © JL Audio Marine
Garmin Ltd. (NYSE: GRMN), today announced it has entered into a definitive agreement to acquire JL Audio, a privately-held U.S. company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home and RV customers.
"JL Audio's extensive audio experience will create new opportunities to provide premium audio features across a broad range of our markets and products. The JL Audio brand is known around the world for offering a premium audio experience which is made possible by their talented and dedicated associates. We look forward to welcoming the JL Audio team into the Garmin family." -Cliff Pemble, Garmin President and CEO
With over four decades of experience, JL Audio offers premium audio products and accessories, including speakers, amplifiers, subwoofers and other audio components.
"JL Audio shares Garmin's vision to deliver unique technology solutions, supported by meaningful R&D and engineering. We are thrilled at the opportunity to integrate into Garmin's product ecosystem. JL Audio will contribute audio knowledge and engineering expertise to create great audio products for many years to come." -Lucio Proni, JL Audio Founder and CEO
JL Audio is headquartered in Miramar, Florida, and employs more than 600 associates. The completion of this acquisition is expected to occur by the end of 2023 and is subject to customary regulatory approvals and closing conditions. All existing JL Audio products will continue to be supported post- closing, and customers can expect to continue receiving the same great customer service. Financial terms of the acquisition will not be disclosed.
Engineered on the inside for life on the outside, Garmin products have revolutionised the aviation, automotive, fitness, marine and outdoor markets. Dedicated to helping people make the most of the time they spend pursuing their passions, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday.