Patrick Industries, Inc. Completes Acquisition of Rockford Corporation and the Rockford Fosgate Brand
Patrick Industries, Inc. (“Patrick” or the “Company”) announced that it has completed its previously announced acquisition by merger of Arizona-based Rockford Corporation (“Rockford”) and the Rockford Fosgate® brand. Rockford is a global leader in the design and distribution of premier, high-performance audio systems and components, primarily serving the powersports, marine, and automotive markets and aftermarkets.
“We are extremely excited about the attractive market dynamics and expansion opportunities this acquisition creates as we strategically grow our presence in powersports and leisure lifestyle enthusiast aftermarkets. We look forward to collaborating with the talented Rockford management team to grow their business and further enhance shareholder value,” said Andy Nemeth, Chief Executive Officer of Patrick.
Bill Jackson, President and Chief Executive Officer of Rockford, said, “The Rockford team and I are pleased to be a part of the Patrick family and continuing our legacy of innovation, high quality, and performance alongside Patrick and the markets that we both serve.”
About Patrick Industries, Inc.
Patrick Industries (NASDAQ: PATK) is a leading component solutions provider for the RV, marine, manufactured housing and various industrial markets – including single and multi-family housing, hospitality, institutional and commercial markets. Founded in 1959, Patrick is based in Elkhart, Indiana, with over 11,000 employees across the United States.
Source: Patrick Industries, Inc.