Diamond, Cerwin-Vega Get New Owner

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Diamond Audio, Cerwin-Vega Mobile and Cache have been purchased by an investment group called CV and DA Holdings, Inc. (CVDA) from former owner Domestic Investment Group.

Cerwin-Vega DiamondThe new owner, CVDA is based in Los Angeles, and will incorporate all back-office functions into its offices including all warehousing and distribution.  The company was formerly located in Chandler, AZ.

The current sales and marketing team for the Diamond Audio and its sister brands will continue to manage the existing customer base.

Diamond Audio will branch out from mobile audio into home audio as well as Pro Audio and DJ equipment.  But it will continue in the audiophile tradition, said Larry Frederick, now Regional Sales Manager for CVDA.

As we reported earlier, Cerwin-Vega plans to expand into car audio head units to be shown at CES in January.

“Plans of venturing into new product categories and expanding our product assortment will be key to the future growth of the brands,”  said Bob Chanthavongsa, now VP of Sales for CVDA. “The Cerwin-Vega Mobile brand expects to introduce new source units from entry-level in-dash models to video receivers at the upcoming 2013 Consumer Electronics Show. An assortment of innovative car audio accessories will be showcased from Cerwin-Vega Mobile as well.”

The President of new owner CVDA, Henry Razipour, said, “We look forward to supporting the continued growth and expansion initiatives by providing the resources both financially and operationally to ensure the future success of Diamond Audio, Cerwin-Vega Mobile, and Caché.”

The Cache brand will remain focused on OEM integration devices.

CVDA is located at 1225 E. 7th St., Los Angeles, CA,

Source: CVDA

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