WESTLAKE VILLAGE, Calif., Feb. 9 (UPI) -- Guitar Center Inc. of Westlake Village, Calif., Wednesday acquired privately held Music & Arts Center of Frederick, Md., in a deal valued at $90 million.
Guitar Center will also assume an estimated $8 million in debt and other deferred obligations.
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Music & Arts Center is a musical instruments retailer with operations that include approximately 60 retail locations and 7 educational support centers primarily located in the Northeast, Mid-Atlantic and Southern regions of the United States.
Guitar Center is a retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment, with 138 stores.