Audiovox signed a definitive agreement with Thomson to acquire its U.S., Canada, China and Hong Kong consumer electronics AV business for $19.7 million. The deal, slated to close by the end of December, is expected to generate about $150 million in sales for Audiovox.
“This acquisition adds the well-respected RCA brand for a wide variety of consumer electronics audio video products to our brand portfolio and enhances our purchase of the RCA consumer electronics accessory business made earlier in the year,” said Patrick Lavelle, president and CEO of Audiovox.
The deal follows Audiovox’s acquisition of Thomson’s America’s consumer electronics accessory business for about $59 million in January. That deal gave Audiovox the rights to RCA’s line of CE accessories. The acquisition also included the Recoton, Spikemaster, Ambico and Discwasher brands for use on any products and the Jensen, Advent, Acoustic Research and Road Gear brands for electronics products in 2003.