GC Bought

VENDORS STAY
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Bain Capital Partners LLC, a private investment firm, has bought Guitar Center for $2.1 billion, including assumed debt. The transaction is expected to close in the fourth quarter of 2007. Guitar Center had been part of an auction process at Goldman, Sachs & Co. to solicit interest in a potential buy-out of the company.

According to Marty Albertson, chairman and CEO of Guitar Center, “We are committed to maintaining our vendor relationships and ensuring our customers will continue to experience the same quality and selection of musical instrument products, as well as the high level of service and professional advice through our stores and our Websites.”