A global leader in the design and distribution of premier, high-performance audio systems and components, primarily serving the powersports, marine, and automotive markets and aftermarkets, has been acquired.
Patrick Industries, Inc. announced that it has completed its previously announced acquisition by merger of Arizona-based Rockford Corporation and the Rockford Fosgate brand.
"We are extremely excited about the attractive market dynamics and expansion opportunities this acquisition creates as we strategically grow our presence in powersports and leisure lifestyle enthusiast aftermarkets. We look forward to collaborating with the talented Rockford management team to grow their business and further enhance shareholder value," said Andy Nemeth, CEO of Patrick.
Bill Jackson, president and CEO of Rockford, said, "The Rockford team and I are pleased to be a part of the Patrick family and continuing our legacy of innovation, high quality, and performance alongside Patrick and the markets that we both serve."
Founded in 1959, Patrick is based in Elkhart, Indiana, with over 11,000 employees across the U.S.