Ireland’s DCC gets Jam today
Jam Industries, the $400 million turnover Canadian company that owns MI brands including Washburn, Hamer and Randall, and whose KMC division distributes Washburn, Focusrite, Warwick, Remo, JBL, Elixir. Vandoren, Shure, Vic Firth and many others in the USA, has been bought by the Irish firm DCC Plc.
Montreal based JAM, which currently employs over 600 people, describes itself as a ‘distributor and supply chain service provider in Musical Instruments, Pro Audio/Video and Consumer Audio’ and operates sales offices across the US and Canada, with warehouses/logistics services in Memphis and Montreal. Jam operates in the US as American Music & Sound, KMC, US Music, AVS, Ashly and Davitt & Hanser. In Canada Jam operates primarily as Coast, Erikson (Home, Multi Media, Audio, Pro, and MI), and B&J (MI and Pro).
Though new to the MI industry, Dublin based DCC is a £14.3 billion London Stock Exchange quoted sales, marketing and support services group with four divisions: LPG, Retail & Oil, Healthcare and Technology. It currently employs 10,000 people.
Tim Griffin, DCC Technology Managing Director says: ‘The partnership with Jam represents the next step in DCC Technology’s strategy to extend its geographic footprint and product range, strengthening our relationship with new and existing suppliers while also broadening our base of customers. Importantly, the very strong service capability of Jam represents a significant step in DCC Technology’s continued execution of its plans to provide specialist value added services to all its vendors, resellers and retailers – bringing extensive brand reach and market access whilst simplifying the complex supply chain in our sectors. Following the acquisition of Stampede in July 2018, our investment in Jam adds an exciting new brand to our portfolio and means that we now have a $600m+ revenue business in North America with a strong, service-led specialist focus on pro audio and visual technologies, musical instruments and consumer electronics.’
Jam’s CEO Martin Szpiro believes that the partnership represents the start of the next phase of development for Jam Industries: ‘By partnering with DCC, Jam has gained global reach and huge resource depth which will certainly accelerate growth plans in all of our three core sectors and into new territories. The partnership will allow us to grow scale and capability across all of our services and vertical markets and enable us to continue to invest in our supply chain expertise which is so critical in today’s marketplace. We see benefits for our manufacturer partners through greater reach, efficiency and choices, and for our dealers and resellers through more products and services. We expect to share best practice between DCC and Jam but for our customers and suppliers, the way we do business will remain the same.’
Jam’s management team including Marty Szpiro, CEO, who remains a shareholder, and Stuart Frenkel, CFO, will continue to manage the business post acquisition and says they are committed to leading the business through the next phase of its development. In addition, Jam founder Martin Golden and his son Matthew Golden will also remain involved with the business adding to the continuity.
Info: www.jamindustries.com and www.dcc/ie
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