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Marantz and Denon Brand Owners to Merge

Marantz and Denon Brand Owners to Merge

Marantz Japan Inc., its largest shareholder, Royal Philips Electronics and Denon, Ltd., its largest shareholder, have formed a holding company to merge the operations of Marantz and Denon. The holding company is called D&M Holdings, Inc. The transaction is expected to close by May, subject to antitrust review.
D&M will maintain the Marantz and Denon brands and will employ approximately 1,650 people worldwide.
Tatsuo Kabumoto, CEO of Marantz stated, “The combination of Denon and Marantz, backed by world class companies like Ripplewood Holdings and Philips, establishes a platform on which we intend to build the world class company in the premium audio visual space.”
Kabumoto will become the President and CEO of D&M Holdings. Mitsushige Sakamoto, the current Representative Director of Denon, will become President and CEO of Denon while Takashi Sato, the current President and COO of Marantz will become President and CEO of Marantz.
Marantz and Denon will set up D&M Holdings with its head office in Sagamihara City, Japan.
Marantz shareholders will receive one share of D&M Holdings for each Marantz share, and Denon shareholders will receive 0.4416 shares of D&M Holdings for each Denon share. Ownership of Marantz shareholders and Denon shareholders in D&M Holdings will be 30% and 70%, respectively.
D&M Holdings will be listed on the Second Section of the Tokyo Stock Exchange.