Al & Ed’s Autosound Purchased

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Al & Ed’s Autosound, the 14-store chain based in Van Nuys, CA, and one of the oldest car stereo retailers in Southern CA, has been purchased by a joint venture between Cerwin-Vega Mobile and Diamond Audio parent CV-DA Holdings, and a private investment group named HRAP Inc. based in Los Angeles.

The new owners said Al & Ed’s will conduct business as usual and “it will carry forward and maintain its successful franchise program and vendor partners.”

It also signaled that Al & Ed’s is looking to expand into other states, such as Arizona and Nevada, possibly by offering smaller shops the alternative of becoming Al & Ed’s franchisees.

A spokesman for the new owners said, “Al & Edʼs Autosound looks forward to continued franchise expansion and growth by way of bringing in more specialty retailers as franchisees and targeting new opportunities in underserved markets in territories throughout the Western U.S.”

Al & Ed’s is a franchise chain whose stores share advertising, marketing, point of sale software and purchasing. It also operates a 12 volt distribution business, which was also included in the purchase.

Al & Ed’s Autosound was founded in 1954 by Al Brotsky and Ed Zionts. The chain claims it played a pioneering role in autosound retailing, inventing and installing the first car alarm and installing the first FM stereo in the car. The chain  has performed over 2 million installations since its inception, according to its web site.  It carries brands including Alpine, Kenwood eXcelon, JL Audio, Focal, Pioneer, Rockford Fosgate, Vizualogic, Escort, Clifford, and SiriusXM Satellite Radio.

HRAP Inc. says it is a leading and highly diversified worldwide investment management group focused on acquiring companies and partnering with management to build greater value and long-term growth and success.

Source: CEoutlook

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