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Topic: Yamaha to Acquire Bösendorfer

  1. #1
    Join Date
    Oct 2000
    Orcas Island

    Yamaha to Acquire Bösendorfer

    Yamaha to Acquire Bösendorfer

    Yamaha has announced it has reached a basic agreement to purchase 100% of the shares of Austrian piano maker L. Bösendorfer Klavierfabrik GmbH from the Austrian Bank BAWAG P.S.K. Group. On Dec. 20 Yamaha signed a contract with BAWAG in Vienna, Austria.

    According to media speculation in Japan, Yamaha is paying approximately 15 million euros ($21.5 million) to acquire Bösendorfer.

    Bösendorfer was founded in 1828 and is a manufacturer of premium pianos, especially concert grands. After becoming a subsidiary of Kimball Piano & Organ Company in 1966, Bösendorfer was acquired in 2002 by the BAWAG, an Austrian financial group.

    Bösendorfer currently employs 180 and had net sales of approximately 13.5 euros ($19.4 million) in its 2006 fiscal year. Total assets are estimated at 15.7 million euros ($22.5 million.)

    The Austrian luxury piano maker has struggled in recent years, reporting a loss of $2.9 million in 2006 and carrying debt of about 8 million euros ($11.5 million) for that year. The company sold just 280 units in 2006, down from an average of 500 in recent years and a high-water mark of 800.

  2. #2
    Senior Member Leaf's Avatar
    Join Date
    Apr 2006
    Dallas, TX

    Cool Re: Yamaha to Acquire Bösendorfer

    I hope they don't start using that glossy plastic Polyurethane finish instead of Lacquer, it ruins the sound.

  3. #3

    Re: Yamaha to Acquire Bösendorfer

    Sad that they do sell so few instruments nowadays. Even sadder that they did not manage to shrink in time.
    All your strings belong to me!

  4. #4

    Re: Yamaha to Acquire Bösendorfer

    Aaaaggggh!!!! That's terrible news. Yamahas are awful pianos. The action on them is so heavy that I only have to look at one and my tendinitis comes back. And the sound of the smaller models, like the C3, is so tinny. I hope they don't interfere in the design of the pianos themselves.

  5. #5
    Senior Member
    Join Date
    Mar 2004
    Wilton, NH

    Re: Yamaha to Acquire Bösendorfer

    I'd love to have a Bösendorfer! Of course, looking at the numbers, that's an average of about $70,000 per instrument.... I think my next piano will be a Steinway and come in a Garritan box.

    I hope Yamaha does right by them and lets Bösendorfer be Bösendorfer instead of trying to make it into a high end Yamaha. Even if they continue to lose money, the prestige of the name... Yamaha can afford it.
    Trent P. McDonald

  6. #6
    Senior Member rwayland's Avatar
    Join Date
    Jun 2004
    California Redwoods

    Re: Yamaha to Acquire Bösendorfer

    Quote Originally Posted by propianist
    Personally, even if I had £21.5 million, I wouldn't buy Bosendorfer, because to me, even all the Bosendorfer pianos in the whole world are not worth as much as one single Steinway D-274.
    My thoughts exactly. But my ideal piano is still Baldwin, although I am not familiar with the newest ones. The last Baldwin model F I had my hands on was the one used by American Ballet Theater, and that was at least 20 years ago. My own Baldwin is a 1928 6'3" overhauled about 14 years ago.


  7. #7

    Re: Yamaha to Acquire Bösendorfer

    Given the newly announced relationship between Yamaha and Garritan, I wonder if this means that a Garritan Bösendorfer and a Garritan Yamaha are projected? Would be interesting.

  8. #8

    Re: Yamaha to Acquire Bösendorfer

    Quote Originally Posted by Garritan
    Yamaha to Acquire Bösendorfer .....

    net sales of approximately 13.5 euros ($19.4 million) in its 2006 fiscal year.
    WOW .. 13.5 euros = $19.4 million. I think I have 13.5 euros around here somewhere, will trade these in for American dollars.

    I think this is Gary's deliberate mistake of the week. My deliberate mistake is in another post
    Patience is a virtue, sensitivity is a gift

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