On June 27, 2007, Guitar Center agreed to a $1.9 billion buyout from Bain Capital, totaling $2.1 billion including debt.
GUITAR CENTER NEAR ME PLUS
In February 2007, the direct response division of Guitar Center, Musician's Friend, purchased assets of the Indiana-based company Dennis Bamber, Inc., which included leading band and orchestra retailer Woodwind & Brasswind, plus Music 123 and Lyons Music. The same year, Activision partnered with Guitar Center all purchases made during game play of Guitar Hero, beginning with the second installment, are made in a virtual Guitar Center store. In Summer 2006, Guitar Center acquired four stores in Texas from the popular South Texas and Central/South American company, Hermes. The same year, Guitar Center, Inc., started The Fender Music Foundation, a nonprofit organization that supports music education. acquired Music & Arts, the largest band & orchestra dealer in the United States, and merged their American Music Group chain of band and orchestral stores into Music & Arts (as the company was renamed). Musician's Friend became a wholly owned subsidiary, and remained headquartered in Medford, Oregon. In 2000, Guitar Center acquired mail order and e-commerce retailer Musician's Friend for $50 million, asserting that the merged company was the world's largest seller of musical instruments. The following year, with 30 stores on the West Coast and in Michigan, Ohio, and Florida, Guitar Center made an initial public offering of stock and began opening new locations at an increased rate.
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