Garmin, Ltd. reported it entered into a definitive agreement to acquire JL Audio, a privately-held U.S. company that designs and manufactures audio solutions for marine, aftermarket automotive, powersports, home, and RV customers. Terms were not disclosed.
With over four decades of experience, JL Audio sells audio products and accessories, including speakers, amplifiers, subwoofers, and other audio components.
“JL Audio’s extensive audio experience will create new opportunities to provide premium audio features across a broad range of our markets and products. The JL Audio brand is known around the world for offering a premium audio experience made possible by their talented and dedicated associates. We look forward to welcoming the JL Audio team into the Garmin family.” –Cliff Pemble, Garmin president and CEO.
“JL Audio shares Garmin’s vision to deliver unique technology solutions supported by meaningful R&D and engineering. 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,” said Lucio Proni, JL Audio founder and CEO.
JL Audio is headquartered in Miramar, FL, and employs more than 600 people. The acquisition is expected to be completed by the end of 2023 and is subject to customary regulatory approvals and closing conditions. All existing JL Audio products will continue to be supported post-closing. Financial terms of the acquisition will not be disclosed.
