Guild Sale Nearly Complete, Say Fender Officials
Fender guitars is unstrapping one of its most familiar makes--Guild guitarsâ€”and is in the process of finalizing the sale of the 61-year-old acoustic-guitar brand to Cordoba Music Group, makers of Cordoba acoustic guitars, ukuleles and other accessories.
The move was announced in a press statement today by Fender officials, who called Cordoba a â€śgreat fitâ€ť for Guild, which was founded in New York in 1953 by Alfred Dronge, a specialist in jazz guitars.
â€śIt was important for us to find a great steward to continue the important legacy of Guild guitars,â€ť said Fender Musical Instruments Corporationâ€™s interim CEO Scott Gilbertson.
Officials from Fender, which purchased Guild in 1995, said Guild operations will â€ścontinue as usual during the transition process.â€ť Following completion of the sale, Cordoba Music Group is expected to begin manufacturing Guild guitars at its facility in Oxnard, California.
Cordoba Music Group president Jonathan Thomas says heâ€™s â€śexcited and honoredâ€ť to move forward with â€śan iconic American brand.â€ť
â€śWe will continue to make [Guild] instruments of exceptional quality in the USA,â€ť said Thomas, â€śand look forward to giving one of the industryâ€™s great American brands a new home.â€ť
Itâ€™s been a news-making few weeks for Fender and its subsidiary brands. On April 23, Fender announced the closing of its Ovation-guitar production facility in New Hartford, Connecticut, citing â€ścurrent market conditionsâ€ť for the move. At that time, the company announced that Guild guitars, also made at the New Hartford site, â€świll transition to other facilities at a later date.â€ť--Jason Walsh