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Tuesday, Apr 30, 2024

Guitar Center Acquires Hermes Music Stores

Guitar Center Inc. has agreed to acquire musical instrument distributor and retailer Hermes Trading Co. Inc. in Texas. Terms of the deal were not disclosed. The deal includes four retail locations in Texas, which will be remodeled and rebranded into the Guitar Center format. “We are excited about the acquisition of these four Hermes Music stores, which cater largely to the Hispanic market,” said Marty Albertson, chairman and CEO of Guitar Center in a press release announcing the deal. The company currently operates 12 Guitar Center stores in Texas. As a result of the acquisition, Guitar Center will enter the San Antonio market for the first time. Hermes, founded in 1982, will continue to operate its distribution business outside the U.S.

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