As is well known, the products of the English loudspeaker specialist KEF have been handled for years by GP Acoustics GmbH, based in Essen, Germany, as the distributor responsible for Germany, Switzerland, Poland and Austria. This is no coincidence, since KEF is part of the Singapore-based GP Industries Ltd. group, which in turn is part of the Gold Peak Technology Group. GP Industries Ltd. has two divisions: GP Batteries International Limited and the GP Electronics Division. This GP Electronics Division is made up of two brands: KEF and Celestion.
KGG – Restructuring of GP Electronics
As of 26 January 2023, the new KGG has been established, as GP Industries Ltd. now announces, whereby it is a subsidiary that is to encompass all audio-related business units of the group.
KGG stands for nothing other than KEF GP Group and thus unites the companies of GP Electronics, KEF and Celeston, under a newly created division, although nothing at all is to change in their previous orientation and activities. The corporate structures will remain unchanged and there will be no changes to the management, as the group explicitly emphasises.
The background to this step is, above all, to be open to new investors who are especially enthusiastic about the audio sector.
“I am delighted to announce an exciting new chapter for KEF. On 26 January 2023, we launched a new subsidiary of GP Industries. The subsidiary will bring together all of GP Industries’ audio-related businesses (KEF, Celestion and GP Electronics) and will operate under the name KGG (KEF GP Group). A first round of capital raising has been completed. GP Group will continue to be the major shareholder of KGG.
This new structure will support the rapid growth of KGG’s business division, while attracting investors to invest in our audio-centric KGG businesses.
KGG intends to use the new funds to expand the KEF Experience Centre, for research and development, and for additional targeted marketing and e-commerce solutions. It will also be invested in expanding the KEF community in a holistic ecosystem for our customers and retailers.
To all KEF retailers and business partners: We will continue to grow our business with you. There is no change in management and we look forward to embarking on this exciting journey with you. The new structure and additional resources will allow KGG to accelerate and intensify growth plans with our partners.”Grace Lo, President & Head of Global Marketing KEF
Getting to the point
It is a move that ultimately has no direct impact on the business activities of GP Industries Ltd. in the form of GP Acoustics GmbH and thus the distribution of KEF in Germany, Switzerland, Poland and Austria, but it certainly seems exciting in terms of long-term direction. GP Industries Ltd. is opening up to investors via the newly formed subsidiary KGG or KEF GP Group in order to enable rapid growth on the one hand and to invest even more in development than before.
|KEF GP GROUP – KEF AND CELESTION IN NEWLY FORMED SUBSIDIARY OF GP INDUSTRIES LTD.
|GP Industries Ltd.