Musikpunkt takes over Hug
The Swiss company Musikpunkt AG is taking over the traditional Zurich company Musik Hug AG. No job cuts are planned. The parties have agreed not to disclose the purchase price.
Musikpunkt Holding AG was formed in 2010 through the merger of Musikhaus Gasser AG (since 1953) with Lohri AG (since 1972). In 2012, the percussion division was integrated into the holding company with Musikhaus Muff AG (since 1993) and the three operating companies merged to form Musikpunkt AG. The supplier of wind instruments and percussion with around 30 employees is represented in Central Switzerland at two locations in Lucerne and Hochdorf. Musik Hug employs around 152 people, including 19 apprentices.
The operational management of the merged companies will be carried out by the co-owner and managing director of Musikpunkt AG, Adrian Lohri, together with the former CEO of Musik Hug, Erwin Steinmann. He will be supported by the current management of the Musik Hug Group. The new Board of Directors will be chaired by the former Chairman of the Board of Directors of Musikpunkt AG, Kurt Sidler.
