GIBSON BUYS BALDWIN

Gibson Guitar Corporation (Nashville) has finalized its purchase of Baldwin Piano & Organ Co.'s assets from GE Capital, secured lender for Baldwin. The
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Gibson Guitar Corporation (Nashville) has finalized its purchase of Baldwin Piano & Organ Co.'s assets from GE Capital, secured lender for Baldwin. The 140-year-old, Ohio-based company has two production facilities in Arkansas, and markets pianos under the Baldwin, Chickering and Wurlitzer brands. Gibson's acquisition of Baldwin keeps the company under U.S. ownership and brings it into the family of Gibson Musical Instruments (which includes Epiphone, Kramer, Slingerland drums, Oberheim keyboards and Maestro effects, among others). Commenting on the acquisition, Henry Juszkiewicz, chairman and CEO of Gibson, said: “We expect Baldwin to achieve new levels of growth and financial success for its employees, dealers and consumers as we make music in the new century.”

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