INDIANAPOLIS, IND. (August 11, 2020) — Klipsch®, a legend and leader in premium audio products, is pleased to announce a strategic restructuring and expansion plan designed to meet and exceed global consumer demand with a streamlined and focused portfolio of tech-driven premium audio solutions. The move positions the company to offer a vast, complete audio and electronics assortment while continuing to deliver world-class service to its channel partners and consumers alike.

Effective immediately, the following companies and their associated brands will be structurally aligned under a newly formed corporate umbrella named Premium Audio Company, LLC. as follows:

• Klipsch Group, Inc. – which includes the Klipsch, Jamo, Energy, and ProMedia speaker brands.

• 11 Trading Company (11 TC) – the newly formed distribution company with exclusive distribution rights in the Americas to the Onkyo, Pioneer, Pioneer Elite, and Integra brands, as well as rights with respect to the Magnat and Heco brands.

In addition, 11 TC will exclusively market and sell premium audio products in the Americas for following two subsidiaries. ­

• Magnat and Heco loudspeakers, two of Germany's most revered speaker companies.
• Onkyo & Pioneer Corporation, which includes the Onkyo, Pioneer, Pioneer Elite, and Integra brands and products such as AV receivers, HiFi equipment, mini-systems, smart speakers, turntables, sound bars, home theater systems, and optical disc players.

Paul Jacobs remains President and CEO of the Premium Audio Company, LLC subsidiary. Mr. Jacobs added, “Klipsch remains our flagship brand within our premium audio portfolio and we are expecting significant growth this year with new products coming to market and our expanded distribution. We will also be bringing to the Americas some of our international brands while offering our customers and consumers a much wider assortment of high-end premium audio products. We look forward to the coming year and building our business through innovation.”

As announced on July 30, 2020, Klipsch and Onkyo & Pioneer Corporation expanded their alliance to include the distribution of Onkyo, Pioneer, Pioneer Elite, and the Integra brands in the Americas. The distribution will run through a newly created subsidiary, 11 Trading Company, LLC, and will include products ranging from AV receivers to HiFi equipment, mini-systems, smart speakers, turntables, sound bars, home theater systems, optical disc players and more, broadening the Company’s portfolio to include a diverse mix of audio products. Onkyo and Pioneer Corporation will continue to distribute Klipsch-branded products in Japan.

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About Premium Audio Company

Established in 2020, Premium Audio Company is the most innovative, complete and premium audio solutions provider in consumer technology. We connect people to their passion for entertainment. Premium Audio Company is comprised of three subsidiaries and includes some of the most legendary and revered brands such as Klipsch, Jamo, Mirage, ProMedia, Magnat, Heco, Mac Audio, Onkyo, Pioneer, Pioneer Elite and the Integra. Premium Audio Company, LLC is a wholly-owned subsidiary of VOXX International Corporation (NASDAQ: VOXX).