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D&M Holdings bought up by Bain Capital, Kenwood not involved

Steven Kim
06.25.08
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Talk about needing a roster to tell the players apart! RHJ International -- which owns some 49-percent of the D&M Holdings hydra (Denon, Marantz, Boston Acoustics, Escient, MacIntosh and Snell) -- has accepted an offer from Bain Capital to the tune of ¥510 ($4.74) per share in a buyout bid. But earlier reports that pinned Kenwood as a partner to Bain in this effort have been denied by Bain. There's some goings-on here, for sure. First, we haven't seen any dealings involving the 12-percent stake that Philips has in D&M. Also, the soon-to-be JVC Kenwood Holdings states that it has not decided on whether it will invest in D&M; which corroborates pretty well with the latest Bain statement that Kenwood is not involved, and there are no ongoing talks of future involvement. Corporate squabbling and conspiracy theories aside, we just hope that the D&M brands come out unscathed.

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