Two years ago, Fender (with an $11.8 million loss for the three months that ended April 1, 2012) sought to become a publicly listed company, hoping to raise as much as $160.5 million. But the stock sale’s prospectus revealed some signs of struggle under the guitar maker’s owner at the time, the investment firm Western Presidio. Among them were lukewarm financial results, with an $11.8 million loss for the three months that ended April 1, 2012, a reversal from a $6.5 million profit in the period a year earlier. The company plans on Thursday to name Bono and the Edge from U2 to its board, both brought in by Fender’s majority owner, TPG Growth. Their challenge is to help Fender, which is 68 years old, thrive in a digital age, when Spotify is a more prominent music brand than the Strat.
Posted on: Thu, 29 May 2014 18:56:23 +0000
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