Pioneer and Onkyo Europe acquired by Aqipa distribution

Onkyo and Pioneer Europe have a new owner. Consumer electronics distributor Aqipa GmbH, headquartered in Kundl, Austria, has agreed an asset deal that will see it acquire all business activities relating to Pioneer, Onkyo, Integra, Teac and Esoteric. The deal is said to be worth €140 million in revenue and covers all European markets.

Sales, marketing, after sales service, customer care, finance, spare parts and distribution for the brands will be transferred to Aqipa, with effect from October 1, 2018.

"We are really excited that Pioneer & Onkyo Europe and all its related brands, as well as all their European employees, will be joining the Aqipa family,” says Aqipa Chief Executive Officer Christian Trapl. “The brands 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."

Susumu Shiotsuka, President of Pioneer & Onkyo Europe, says the deal will strengthen brand presence in Europe. “In future, we will be able to focus on our core competencies in the areas of development, production and brand-building. Together with Aqipa, we are confident that we can deliver a new level of performance in Europe, one that will please all our customers."