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Business deals

Yamaha buys U.S. classical guitar maker Cordoba in six-string push

Japanese musical instrument manufacturer seeks to expand global presence

Cordoba's guitars, three of which are pictured on the left, will expand Yamaha's roster of the instruments, three of which are on the right. (Photo courtesy of Yamaha Guitar Group)

HAMAMATSU, Japan -- Yamaha said Tuesday that American unit Yamaha Guitar Group has purchased California-based Cordoba Music Group, known for its quality nylon-string classical acoustic guitars.

The purchase of all shares for $39 million, finalized the same day, gives the Japanese company access to technology and knowledge to apply to product development in a bid to expand its share of the global guitar market.

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