Onkyo & Pioneer Corporation and Aqipa GmbH, a value-added distributor within the consumer electronics channel, has agreed an asset deal concerning the transfer of business activities - relating to the hifi and home cinema brands Pioneer, Onkyo, Integra, Teac and Esoteric - to Aqipa. The asset deal is worth roughly € 140 million in revenue and applicable for all European markets.
Based on this agreement, all business activities relating to sales, marketing, after sales service, customer care, finance, spare parts and distribution for the brands Pioneer, Onkyo, Integra, Teac and Esoteric in Europe will be transferred to Aqipa with effect from October 1st, 2018.
Aqipa’s Chief Executive Officer Christian Trapl announced the agreement on June 22nd 2018 at their headquarters in Kundl, Austria: “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 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.”