Phoenix Gold International has acquired the marketing assets of Carver Corp., including the Carver name, along with plans to actively rebuild the Carver brand, beginning with a full line of new consumer and professional audio products.
Phoenix Gold’s action marks the completion of a project to acquire the marketing assets of Carver Corp., a developer and manufacturer of mid- and high-end audio components that ceased operations upon filing for Chapter 11 bankruptcy protection in 1999. A few years earlier, in 1995, Phoenix Gold acquired the full line of Carver Professional products and has been designing, building, and marketing Carver Professional amplifiers worldwide ever since.
Final agreement on the present acquisition was reached with the U.S. Bankruptcy Court in Seattle on January 14, 2004. It authorizes Phoenix Gold to take ownership of the Carver name for a full line of consumer and professional products.
“This represents the final step in a long process to develop a full-line product strategy for Carver, using the varied resources of Phoenix Gold International,” says Roland MacBeth, president of Phoenix Gold International. “Our engineering group and product development teams have a complete roadmap in place to rebuild this respected brand into an active, healthy, innovative participant in the audio marketplace over the next few years.
“We have invested considerable time and resources to complete the acquisition and are tremendously excited at the opportunity for growth it represents for our company. Carver Corp. had a strong tradition of developing well-engineered, innovative products. Our intention is to reestablish the Carver tradition through a comprehensive collection of consumer and professional electronics products bearing the Carver name.”
