Gibson Guitar buys Baldwin Piano
Earlier this year Baldwin Piano filed for chapter 11 bankruptcy protection.
The venerable old American piano manufacturer was in deep financial trouble.
On October 15th GE Capital, the secured lender for Baldwin acquired the company's assets.
This prompted a lot of discussions on our Piano Forums bulletin boards. Nobody wanted to see the company close, but there were a lot of guesses and speculation about what might happen. The answer came on November 9th when the Gibson Guitar Corp. finalized its purchase of the assets of the Baldwin Piano & Organ Co. from GE Capital.
The 140-year-old Ohio-based Baldwin has two production facilities in Arkansas, and markets its pianos under the Baldwin, Chickering and Wurlitzer brands.
Gibson's acquisition of Baldwin keeps the American piano company under U.S. ownership. Gibson also owns Epiphone, Kramer, Slingerland drums, and Oberheim and Maestro.
Gibson management promises to rebuild Baldwin back to the quality piano powerhouse it once was.
Baldwin pianos will continue to be made in America while the other brands will be built overseas.