Steinway’s New Owners See Expanded Market Potential

Even though the classical music economic climate might look chilly to some observers, it seems that forecast doesn’t extend to the luxury piano market where a private equity firm, Kohlberg & Company, recently purchased Steinway & Sons for $438 million. Although there was some reasonable trepidation from musicians and classical music presenters over the announcement, it appears that the new owners are actually looking to expand production and maintain existing quality …

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