Though the Marshall family will retain a 24 percent stake in the company, the sale marks the end of 60+ years of family ownership of the legendary amp firm.
Marshall Amplification, the 60-year-old company behind iconic guitar amps, is being acquired by the Zound Industries, the Swedish company that produces Marshall-branded headphones and speakers.
The privately owned Swedish firm, which already designs and develops speakers and headphones using the Marshall brand, will create a newly formed company called the Marshall Group.