May 19, 2020
Jam Group bought by Irish DCC Technology
Jam Group, a Canadian market leader in sales, marketing, and services pertaining to professional audio, musical instruments, and consumer electronics, has been bought by Dublin-based DCC Technology
The acquisition, worth around US$170mn, is DCC’s second in North America following its purchase of Stampede, a global leader in ProAV distribution, in July.
“The acquisition of Jam significantly strengthens DCC Technology’s position in the North American market”, said Donal Murphy, chief executive of DCC.
“DCC Technology now has approximately US$600 million in revenue in North America with a strong, service-led, specialist focus on professional audio and visual, musical instruments and consumer electronics”.
“The growing and fragmented nature of these markets will provide DCC Technology with further opportunities for development in the coming years”.
Jam Group, made up of Jam Industries and Jam International, generated US$323mn in the year ending 30 April 2018 and employs around 570 people.
- Canopy Growth confirms CA$5bn investment
- Pinterest set to open its first Canadian office in Toronto
- Kraft Heinz Canada acquires Ethical Bean Coffee
Its management team will remain in place following DCC’s acquisition, with the new owner noting it is “experienced and proven”.
DCC is seeking to expand its influence around the world and broaden its product range.
Regarding the acquisition itself, the firm’s statement added:
“Importantly, the very strong service capability of Jam is consistent with DCC Technology’s increasing focus on positioning itself as a specialist service partner for customers and suppliers, providing extensive brand reach, market access and simplifying the complex supply chain of its chosen sectors”.