Kaman Purchases Latin Percusion, Inc.
October 22, 2002
Kaman Music Corporation of Bloomfield CT announced the purchase of Latin Percussion Inc. (LP) of Garfield, New Jersey, a supplier of hand percussion drums and accessories. In this transaction, Kaman has acquired all of the stock of LP for an undisclosed price, and assumes ownership of all of LP's assets and trademarks.
"Kaman Music is a major player in all percussion markets, and adding LP to the Kaman family of professional products is a perfect fit for both companies", stated Bob Saunders, President of Kaman Music Corporation.
"This affiliation enables LP to reach a new level of growth through Kaman's superior world-wide distribution network. With this great company behind us, we will be able to pursue product development and line expansions that would otherwise have taken years to achieve. This is especially true in the challenging times that lie ahead," stated Martin Cohen, Founder of LP.
"We anticipate only positive impacts on our products, endorsers, and suppliers," stated David McAllister, Senior Vice President of LP. "It's our goal to make this change completely transparent to drummers and percussionists the world over. Our dealers will enjoy the benefits of buying our products from Kaman, such as multi-point warehousing and a sales and service team second to none."
Kaman Music will continue to maintain Latin Percussion and Toca Hand Percussion as separate but complimentary lines of hand percussion instruments and accessories. LP joins Kaman's other professional percussion products, including Gibraltar Hardware, Sabian Cymbals, Gretsch Drums, and Vic Firth Educational Percussion.
For more information, visit their web site at www.kamanmusic.com. |
