Swedish company Zound Industries, which licensed the Marshall brand for its speakers and headphones, has bought Marshall Amplification. The 60-year-old iconic company is known for making guitar amplifiers used by legendary musicians such as Jimi Hendrix, Slash and Kurt Cobain. The combined group is estimated to be worth over $400 million, with the Marshall family holding the largest stake of 24%.

In 1962, Jim Marshall and his son Terry founded Marshall Amplification and their first customers included young musicians like Pete Townshend of The Who. The company's first amplifier, the JTM45, featured a distinctive "crunch" sound that became widely recognized in British and American blues and rock music in the 1960s and 1970s, and is still popular with guitar enthusiasts and students today. Although Jim Marshall passed away in 2012, his son Terry, granddaughter Joanne Marshall-Price, as well as Victoria Marshall, Paul Marshall and the Marshall Charitable Trust, will all play important roles in the new entity.

Founded in 2008, Zound aims to offer a stylish alternative to established audio brands such as Bose, JBL and Sony. The company's growth has been fuelled by the increasing popularity of music streaming apps such as Spotify and Apple Music, as well as the proliferation of smartphones. Since entering into a licensing agreement with Marshall in 2010, Zound has produced headphones and consumer speakers featuring the iconic Marshall logo. In addition, the company manufactures personal audio devices under the Adidas and Urbanears brands.