Aqipa GmbH takes acquires Onkyo and Pioneer Europe in a €140 million deal that sees the distributor taking over all activities involving the Pioneer, Onkyo, Integra, Teac and Esoteric brands in Europe.
The transfer takes effect from 1 October 2018, and sees the transfer of all business activities relating to sales, marketing, after sales service, customer care, finance, spare parts and distribution for the brands Pioneer, Onkyo, Integra, Teac and Esoteric in Europe to Aqipa.
“We are really excited that Pioneer & Onkyo Europe and all its related brands, including Integra, Teac and Esoteric, as well as all their European employees, will be joining the Aqipa family," the distributor says. "The brands will will continue to bring great products to market while we will deliver heightened brand awareness, together with first-class value-added distribution, sales intelligence and market-leading IT systems."
“This agreement between Onkyo & Pioneer Corporation and Aqipa GmbH will make it possible to optimise the distribution of our products, expand sales channels and significantly strengthen the brand presence in Europe," Pioneer & Onkyo Europe adds. "In future, we will be able to focus on our core competencies in the areas of development, production and brand-building. Together with Aqipa, we are confident that we can deliver a new level of performance in Europe, one that will please all our customers.”
