The Marshall family’s controlling interest in its iconic guitar amplifier company is set to come to an end after 60 years as family members have signed a deal to hand it over to Stockholm-based Zound Industries.
Under the terms of the deal, Zound will acquire Marshall Amplification, while Marshall family will hold a 24% stake in newly formed joint entity known as Marshall Group.
The amplifier, which was developed in the family’s drum shop in 1962, grew to become among the most recognised music brands in the world, popular with the likes of rock giants Jimi Hendrix, Eric Clapton and Paul McCartney.
Beginning with the JTM45, the amplifiers’ distinctive crunch sound became recognisable across scores of British and American blues and rock tunes in the 1960s, the 1970s and beyond, and contemporary models remain popular with guitar students and enthusiasts.
Terry Marshall said: “Since my father and I created the original Marshall amp back in 1962, we have always looked for ways to deliver the pioneering Marshall sound to music lovers of all backgrounds and music tastes across the world - and I’m confident that the Marshall Group will elevate this mission and spur the love for the Marshall brand.”
The deal follows a decade-long partnership between Marshall and Zound in which the Swedish company developed some of the technology behind a fresh range of consumer products including Bluetooth speakers and headphones.
Zound founder Konrad Bergström said: “I am proud that this deal has finally been completed. The success that we have achieved with the Marshall brand over recent years is soon going to be seen as having been the warm-up to a new British-Swedish headline act that is going to shake the tech and music industries to their foundations.”
