TACOMA, Wash., Oct. 13 (UPI) -- Fender Musical Instruments bought Washington state's Tacoma Guitars, makers of high-quality acoustic guitars played by the likes of Bob Dylan and Vince Gill.
The transaction will give the small 8-year-old company access to Fender's worldwide distribution as one of the leading U.S. guitar manufacturers, as well as add respected acoustic guitars and mandolins to Fender's line, the Tacoma, Wash., Tribune reported Wednesday.
Tacoma's guitars retail from $800 to $3,000, with a cheaper line, Olympia, made in Asia.
The company, producing between 7,000 and 10,000 instruments annually, makes its most expensive guitars, mandolins and basses in Tacoma, Wash., where production and the manufacturer's 50 employees will remain.
Fender, started in 1946 by Leo Fender, has annual sales of more than $400 million. Tacoma's sales are more than $8 million annually.
Neither party disclosed the purchase price.
