SCOTTSDALE, Ariz., July 19, 2012 (GLOBE NEWSWIRE) -- Fender Musical Instruments Corporation ("Fender") today announced that, based on current market conditions, it has chosen not to proceed with its planned initial public offering at this time. "Current market conditions and concerns about economic conditions in Europe do not support completing an initial public offering at what we believe to be an appropriate valuation at this time," said Larry E. Thomas, Fender's Chief Executive Officer.
About Fender Musical Instruments Corporation
Fender Musical Instruments Corporation is a leading, global provider of musical instruments and accessories with a broad portfolio of lifestyle brands that includes Fender, Squier, Jackson, Guild, Ovation and Latin Percussion, which Fender owns, and Gretsch, EVH (Eddie Van Halen) and Takamine, for which Fender is the licensee. Fender is headquartered in Scottsdale, Arizona.