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Gentex signs agreement to purchase VOXX International

GenTex in Zeeland, Michigan, is one of the largest employers in Ottawa County, and has seen tremendous growth over the past several years.
GenTex Mergers and Acquisitions
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GenTex Mergers and Acquisitions
GenTex in Zeeland, Michigan, is one of the largest employers in Ottawa County, and has seen tremendous growth over the past several years.

Zeeland-based automotive supplier Gentex plans to purchase the remaining stock of VOXX International for about $120 million

Under a signed agreement, Gentex will acquire all issued and outstanding shares of VOXX stock not already owned by Gentex for $7.50 per share.

VOXX, which is based in Orlando, Florida, is an international manufacturer of household electronics including brands such as Pioneer, Onkyo, Integra, and Klipsch, as well supplying in-vehicle entertainment and security systems for automobiles.

Gentex already maintains roughly 30% ownership of VOXX. The full purchase of VOXX will be around $175 million.

Gentex says the acquisition is a strategic addition to its portfolio of products and expects its annual revenue to increase in the range of $350 to $400 million annually.

The proposed transaction was approved by both Gentex and VOXX’s Boards of Directors and is still subject to the approval of VOXX’s shareholders, regulatory approvals and other customary closing conditions. Pending those, the acquisition is expected to close in the first quarter of 2025.

Dave joined WGVU Public Media in November of 2023 after eighteen years as a Michigan Association of Broadcasters Emmy-nominated photojournalist and editor at Grand Rapids' WOOD TV8 and three years at WEYI TV25 in Flint, Michigan. As a General Assignment Reporter, Dave covers daily news and community events all over West Michigan.
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