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Fender & Gretsch Join Forces!

(Fender | Posted 2002-08-20)


Fender & Gretsch Join Forces!

Fender Musical Instruments Corporation (FMIC) and Fred Gretsch Enterprises, Ltd. (Gretsch) proudly announce today that the two companies have entered into an agreement wherein FMIC has been granted the exclusive rights to develop, produce, market and distribute Gretsch guitars worldwide.

As part of the deal, which is effective as of January 1, 2003, FMIC will be responsible for all aspects of the Gretsch stringed instrument product lines and brand names, including Gretsch® guitars and basses, Synchromatic® guitars, Electromatic® guitars and Gretsch¹s line of parts and accessories. Development of future new products, including Gretsch branded amplifiers, is also a part of the deal.

Citing FMIC¹s success in worldwide sales, marketing and distribution as the reason for which it was considered a viable company to approach, Gretsch looks to expand its brand name awareness and market share with the help of FMIC¹s established assets.

FMIC Chairman & CEO Bill Schultz, and Gretsch President Fred Gretsch, have also had a long term mutual respect for one and other, and the decision to work together in expanding the reach of Gretsch products to a global level is a perfect fit for these two iconic manufacturers.

Explains Fred Gretsch, ³Our goal as a family business has always been to enjoy a steady growth as a company without sacrificing our ideals. Today¹s Fender shares that same belief, and the Gretsch name deserves the benefit of working with a company that will help achieve our goals while maintaining our long time standards of quality and integrity. That¹s Fender.²

Beginning January 1, 2003, FMIC will take over existing Gretsch inventory and they will begin to market and distribute the product to FMIC¹s worldwide network of retailers and distributors.

Fred Gretsch has entered into a consulting agreement in which he will work with FMIC throughout the changeover, helping to create a smooth business transition and to ensure the integrity of The Gretsch Guitar Company¹s 120-year heritage. He will also consult on product development and quality control, and he will continue to be an active part of Gretsch¹s artist relations.

³These are very thrilling times for both Fender and Gretsch,² says Bill Schultz. ³We are very much looking forward to working on expanding Gretsch¹s reach around the world, and we are all excited that this will lead the way to the possibility of more American-made products in the future.²

About Fender Musical Instruments Corporation Fender Musical Instruments Corporation (FMIC) is the world¹s foremost manufacturer of guitars, amplifiers, and related equipment. Since 1946, the name Fender has become synonymous with all things rock Œn¹ roll: from Buddy Holly to Jimi Hendrix to Eric Clapton to Kurt Cobain and everything in between. Fender¹s iconic instruments such Telecaster®, Stratocaster®, Precision Bass® and Jazz Bass® are known the world over as the instruments that started the rock revolution, and they continue to be highly prized among today¹s guitarists and collectors alike. Corporate headquarters are located in Scottsdale, AZ, with manufacturing headquarters and the world-renowned Fender Custom Shop in Corona, CA. FMIC markets using the brand names Fender®, Squier®, Guild®, Benedetto®, Floyd Rose, and Rodriguez®. For more information, contact Fender Musical Instruments Corporation, 8860 East Chaparral Road, Suite 100, Scottsdale, AZ 85250, 480.596.9690, or visit our Web site at www.fender.com.

About Fred W. Gretsch Enterprises, Ltd. The Gretsch family has been making fine musical instruments since 1883 and is now in the fourth generation of family ownership. For most of that time, Gretsch has designed and built some of the most appreciated and renowned guitars ever, from its acoustics and archtops of the 1930s and Œ40s, to its groundbreaking electric guitars of the Œ50s and Œ60s. Today, Fred W. Gretsch Enterprises, Ltd markets their products under the brand names Gretsch®, Synchromatic®, Electromatic® and Bigsby®. For more information, please contact The Gretsch Guitar Company at PO Box2468, Savannah, Georgia 31402, or visit www.gretsch.com.

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