Garmin Ltd. (NYSE: GRMN), is to acquire JL Audio, a Miramar, Fla.-based company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home and RV customers.
The amount of the deal was not disclosed. 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.
The acquisition brings premium audio integration across a broad range of Garmin markets and products.
Led by Lucio Proni, Founder and CEO, JL Audio offers premium audio products and accessories, including speakers, amplifiers, subwoofers and other audio components. The company employs more than 600 associates.
Led by Cliff Pemble, President and CEO, Garmin provides products for the aviation, automotive, fitness, marine and outdoor markets. Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom.
FinSMEs
07/08/2023