Posted by Chuck(G) on January 17, 2003 at 14:00:22:
In Reply to: Besson? posted by Stickboy on January 17, 2003 at 13:19:13:
Not out of commission, but looking to break up and sell off the parts. The publishing arm is the big money-maker and, at last check, EMI was in the lead for that.
The instrument making business has not been profitable. Initially, Steinway was interested, but decided against it. The latest news is that an investment group, Rutledge Investments, is looking to buy the business. I don't think that they've made public their plans, but I suspect that it'll go the way of most acquisitions--pieces will be sold off to interested parties with the hope that a net profit will result. I doubt that English Bessons are in the future-view.
As I understand it, Deutsche Bank, who is managing the negotiation and financing, is the fly in the ointment. They appear to be dragging their feet and generally seem not be be too helpful to potential suitors.
In a sense, this may well bring Boosey and Hawkes full-circle. Besson as we know it is the result of the acquisition back in the early 1930's of an originally French firm, combined with Hawkes&Son brass instruments. Similarly, the other Boosey brands are the result of acquisition.