Published on July 5th, 2018 | by The GC Team0
Onkyo & Pioneer Corp. transfers European business to Aqipa
Onkyo & Pioneer Corporation and Austrian-headquartered CE distributor Aqipa GmbH have announced an agreement for the transfer of business activities relating to the hi-fi and home cinema brands Pioneer, Onkyo, Integra, Teac and Esoteric to Aqipa.
The deal, which applies to all European markets, is said to be worth around €140 million in revenue.
All business activities relating to sales, marketing, after sales service, customer care, finance, spare parts and distribution for the aforementioned hi-fi and home cinema brands in Europe will be transferred to Aqipa with effect from 1st October 2018.
“This agreement between Onkyo & Pioneer Corporation and Aqipa GmbH will make it possible to optimise the distribution of our products, expand sales channels and significantly strengthen the brand presence in Europe,” said Susumu Shiotsuka, President of Pioneer & Onkyo Europe.
“In future, we will be able to focus on our core competencies in the areas of development, production and brand building. Together with Aqipa, we are confident that we can deliver a new level of performance in Europe, one that will please all our customers.”
Aqipa Chief Executive Officer Christian Trapl commented: “We are really excited that Pioneer & Onkyo Europe and all its related brands, including Integra, Teac and Esoteric, as well as all their European employees, will be joining the Aqipa family.
“The brands will continue to bring great products to market while we will deliver heightened brand awareness, together with first-class value-added distribution, sales intelligence and market-leading IT systems. I feel absolutely confident that joining forces will strengthen both Aqipa’s market position and portfolio, as well as the distribution of Pioneer & Onkyo products.”