Onkyo & Pioneer’s European operations change hands
Things are just about to change significantly when it comes to the operations of Onkyo and Pioneer Corporation, as it has revealed it has signed on the dotted line on an agreement to “transfer all of its hi-fi and home cinema brands'” business to Aqipa GmbH.
Austrian-based distributor Aqipa will now oversee all business operations in Europe – spanning all things sales, marketing, customer support and distribution – effective from Tuesday 1 October, 2018.
"We are really excited that Pioneer and Onkyo Europe and all its related brands... as well as all their European employees, will be joining the Aqipa family. The brands will coninue to bring great products to market while we will deliver heightened brand awareness", said Christian Trapl, CEO at 1990-founded Aqipa.
The Onkyo and Pioneer Corporation family includes manufacturers Esoteric, Integra and TEAC (in addition to Onkyo and Pioneer).
The asset deal to take over the company’s operations in Europe is expected to be worth a cool €140 million (around £160/$160 million).