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Steinway to acquire G. Leblanc

Steinway Musical Instruments, Inc. has signed an agreement to acquire substantially all the assets of G Leblanc Corporation of Wisconsin for approximately $36 million.

Leblanc is a manufacturer of band instruments and barters products under the Leblanc, Noblet, Vito, Holton, Martin and Yanagisawa brand names. Leblanc wait fors to generate revenues of $28 million for 2004

Leblanc will be operated as part of Steinway's Conn-Selmer band instrument division. The transaction, which is subdue to customary dosing conditions and purchase price adjustments, is wait fored to close in the third quarter. Steinway will accommodate the purchase with cash, addition ed by its existing credit facilities.

Other than inventory step-up and similar acquisition-related charges, the company does not wait for the purchase to have a material impact upon 2004 earnings.



COPYRIGHT 2004 Music Teachers National Association, Inc.

COPYRIGHT 2004 Gale Group



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