For around 122 million euros: Chinese company buys Beyerdynamic

Beyerdynamic is about to be sold to the Chinese manufacturer Cosonic. Beyerdynamic Managing Director Andreas Rapp confirmed corresponding reports from China to heise online. The sale price is said to be 122 million euros, although according to Rapp this is dependent on several factors.

Beyerdynamic is a traditional audio specialist from Germany that was founded in Berlin in 1924 and today has sites in Heilbronn, the USA, and China. Beyerdynamic is mainly known for its DT series studio headphones and conference technology. Cosonic, on the other hand, has so far only appeared as a contract manufacturer for various audio brands.

“Future investments cannot be financed”

According to Cosonic, the acquisition of Beyerdynamic is intended to help the company build its own brand and strengthen its presence in Europe and North America. The Chinese company also plans to use Beyerdynamic's global sales network for international expansion.

For Beyerdynamic, the deal has financial incentives: “The shareholders have recognized that future investments cannot be financed with the current structure,” CEO Andreas Rapp told heise online. “They have therefore decided to sell the company to an interested party who will not only continue Beyerdynamic's 100-year history, but also take it forward to continue to survive in the international markets.” Following the coronavirus crisis, sales had collapsed, making restructuring measures necessary.

No changes for employees

Rapp promises that nothing will change for employees as a result of the move. All contracts and agreements will remain valid. Cosonic is also particularly interested in maintaining the production site in Heilbronn so that Beyerdynamic products can continue to bear the “Hand made in Heilbronn” quality mark. Company co-determination will also remain untouched. According to Beyerdynamic, the company has a total of 375 employees.

The executive board and management of Beyerdynamic are also to remain in office. “Beyerdynamic will continue to operate as an independent company in the future,” said Rapp. The purchase agreement for all company shares was signed on June 5. Approvals from the authorities are still pending. Beyerdynamic expects the takeover to be completed in three to five months.

The sum of 122 million euros reported from China should be treated with caution, explains Rapp. There are several variables that could reduce the final purchase price. In addition, a “considerable portion” of the sum will be used to repay loans.

(dahe)