Houlihan Lokey advises Yamaha

Houlihan Lokey is pleased to announce that Yamaha Corp. (Yamaha) has acquired Cordoba Music Group, LLC (CMG), a leading manufacturer of nylon guitars in the U.S.

Founded in 1887 and headquartered in Hamamatsu, Japan, Yamaha is a leading manufacturer of musical instruments, audio equipment, electronic devices, automobile interior wood components, and factory automation equipment. Yamaha has worldwide operations of subsidiaries in 59 countries and approximately 20,000 people across Japan, Asia, Oceania, Europe, North America, Latin America, the Middle East, and Africa.

Headquartered in Santa Monica, California, CMG has been a leading manufacturer and distributor of acoustic and electric guitars, ukuleles, and musical instrument accessories since 1997. CMG holds a particularly strong position in the nylon string acoustic guitar market and continues to introduce new products to the broader guitar-playing audience. CMG acquired the Guild brand (founded in the 1950s) from Fender in 2014 to expand its product platform, and now has brands such as Cordoba Guitars, Guild Guitars, HumiCase, and DeArmond distributed to musicians around the world.

This transaction aligns with Yamaha’s mid-term strategic plan to further expand its guitar business and strengthen its brand presence in the U.S. and globally. The press release can be read here.

Houlihan Lokey served as the exclusive buyside financial advisor to Yamaha.