Garmin acquires US marine audio firm
US electronics firm Garmin has acquired US audio specialist JL Audio, which designs and manufactures audio solutions for the marine industry, as well as powersports, automotive, home and RV customers.
“JL Audio’s extensive audio experience will create new opportunities to provide premium audio features across a broad range of our markets and products,” says Cliff Pemble, Garmin president and CEO. “The JL Audio brand is known around the world for offering a premium audio experience which is made possible by their talented and dedicated associates. We look forward to welcoming the JL Audio team into the Garmin family.”
JL Audio, which is headquartered in Miramar, Florida, offers premium audio products and accessories, including speakers, amplifiers, subwoofers and other audio components.
In August 2023, Garmin posted its second-quarter results, showing a return to consolidated net growth with revenue gains in three of its five operating segments. According to Garmin’s Q2 2023 results (ending 1 July), consolidated revenue was $1.32 billion, a six per cent increase compared to the prior year quarter.
“JL Audio shares Garmin’s vision to deliver unique technology solutions supported by meaningful R&D and engineering,” says Lucio Proni, JL Audio founder and CEO. “We are thrilled at the opportunity to integrate into Garmin’s product ecosystem. JL Audio will contribute audio knowledge and engineering expertise to create great audio products for many years to come.”
JL Audio is headquartered in Miramar, Florida, and employs more than 600 people. The completion of this acquisition is expected to occur by the end of 2023 and is subject to customary regulatory approvals and closing conditions.
Garmin says all existing JL Audio products will continue to be supported post-closing. Financial terms of the acquisition will not be disclosed.
