Harvey Electronics Agrees to Acquire MyerEmco
In a surprising turn of events, struggling New York-area custom retail chain Harvey Electronics announced an agreement to acquire the similar but reputedly thriving Washington, D.C.-area MyerEmco AudioVideo chain. As such, the combined entity will become, in Harvey’s words, “the leading high-end custom installation business from New York to Washington, D.C.
Publicly traded Harvey hopes to “more than double its size” by adding privately-held MyerEmco’s 10 Washington-area locations. Harvey currently operates nine locations in Manhattan, North Jersey, Connecticut and Long Island.
MyerEcmo President and COO Gary Yacoubian would assume the same role at the combined company. The fate of Harvey Interim CEO Martin McClanan was not addressed in Harvey’s announcements, although he was listed as a contact for comment.