Asheville-based Moog Music sold to global company, ending employee ownership model (2024)

Mitchell BlackAsheville Citizen Times

ASHEVILLE – Robert Moog’s synthesizer took Western Carolina into homes around the world. His musical tool left an imprint on classics like the Beatles’ “Here Comes the Sun.” Now the downtown Asheville company that bears his name, Moog Music, has a new owner.

On June 13, inMusic, which has offices in Rhode Island, the United Kingdom, Germany, Taiwan and Japan, jointly announced the acquisition of Moog Music. The purchase by the global company signifies the end of an era for Moog Music, which made its name as a small musical instrument producer with an indelible connection to Asheville. Its employees owned part of the business, many of whom were students at UNC Asheville.

As of 2015, employees owned 49% of the company, according to previous Citizen Times reporting.

“The employee ownership model was originally his idea,” Michelle Moog-Koussa told the Citizen Times June 14. Moog-Koussa is the daughter of Robert Moog and the executive director of the Bob Moog Foundation and Moogseum in Asheville. “And it was his wish. He believed very strongly in companies being as egalitarian as possible.”

“Over at Moog Music factory here in town, a lot of our graduates work there,” said Professor Charles Jude Weinberg, Associate Director of Music Technology at UNC Asheville, where Robert Moog once taught, told the Citizen Times June 14. “We have sent many, many people there over the years.” In 2009, the University dedicated its electronic studio to Robert Moog, who died in 2005 at age 71.

After the June 9 sale, employees no longer have an ownership stake in the company.

“As part of the acquisition, Moog Music is no longer employee owned,” according to a statement by Moog Music. “All past and present employees who have participated in the Moog Music Employee Stock Ownership Program since it was implemented in 2015 will receive a payout as part of this transition."

“Employees have a vested interest in the success of the company,” Weinberg said. “That has created a sense of loyalty. That is going to change. That is one potential change. It is an inevitable change.” Weinberg later speculated that challenges to the global supply chain likely caused financial difficulty to Moog Music.

“I hope that it maintains its connection to the local community,” Moog-Koussa said. “I do think it’s a very important part of the company, brand and the legacy. The Bob Moog Foundation and Moogseum will certainly remain in Asheville. Asheville was really Bob’s spiritual home.”

The Foundation and Moogseum are independent from Moog Music.

In a letter distributed June 13 announcing the sale, Moog Music President Joe Richardson said, “This new partnership will enable us access to inMusic's efficient global distribution and supply chain network while providing inMusic and its affiliated brands with deep expertise in analog synthesis.”

Moog Music Brand Director Logan Kelly said in an email that the company could not disclose sale numbers concerning employee ownership, calling it "personal financial information." He said the amount of the sale overall was "not available," since it relates to "private organizations and individuals."

Last year, the Citizen Times reported that workers at Moog Music sought to unionize, hoping to get a raise from $14.10 an hour to $17.70 an hour.

More: Asheville, Buncombe living wage shoots up to $20.10; minimum to afford 1 bedroom apt.

“I found it saddening and disturbing as I’m sure everyone at Moog Music did,” said Moog-Koussa about the company’s position with its employees. “I think my dad would have thought the same. I always hesitate to speak for him. I’m glad we live in a democracy where people can raise their voices. I don’t know why that union has not been active but my only hope is that some of their concerns have been addressed.”

Moog Music will stay in Asheville, where Robert Moog’s synthesizer will be made in the Broadway factory, but there is no question that a piece of Moog’s legacy left with the sale.

“He considered himself a toolmaker. He built tools for musicians,” Moog-Koussa said about her father. “He was vested in equipping musicians with the highest amount of sonic expressivity for the purpose of them being able to create music that connected them to their audience. That was his drive."

Mitchell Black is the Citizen Times County Issues Reporter. Email him at MBlack@citizentimes.com.

Asheville-based Moog Music sold to global company, ending employee ownership model (2024)

FAQs

Asheville-based Moog Music sold to global company, ending employee ownership model? ›

The company was sold to the international inMusic in 2023, which ended Moog's employee ownership model and was followed by lay-offs of more than half of the staff, many of whom built instruments.

Is Moog no longer employee-owned? ›

Moog has changed hands. The company has been bought by inMusic, a US firm that owns many other instrument, audio and DJ brands, including Numark, Stanton, Denon DJ, Akai, Alesis, M-Audio, Marantz and plugin company Air. The sale means Moog is no longer part-employee-owned.

What happened with Moog? ›

In 1978, he founded a new company, Big Briar. Moog Music filed for bankruptcy in 1987 and the Moog Music trademark was returned to Robert Moog in 2002, when Big Briar resumed operations under the name Moog Music. In June 2023, Moog Music was acquired by inMusic.

Is Moog Music leaving Asheville NC? ›

Asheville's Moog Store will close, factory to stay open, company announces. The Moog Store located in Asheville's Moog Music factory has closed, Moog Music announced June 28, ending the sale of its world-renowned synthesizers at the location where they are built.

Who is the CEO of Moog Music? ›

A Letter From Our CEO, Mike Adams | Moog.

Is Moog a good company? ›

Moog Inc. has an employee rating of 4.3 out of 5 stars, based on 1,098 company reviews on Glassdoor which indicates that most employees have an excellent working experience there. The Moog Inc.

What is Moog famous for? ›

He was the founder of the synthesizer manufacturer Moog Music and the inventor of the first commercial synthesizer, the Moog synthesizer, which debuted in 1964. In 1970, Moog released a more portable model, the Minimoog, described as the most famous and influential synthesizer in history.

Is Moog a private company? ›

Moog is a public company headquartered in New York with an estimated 13,500 employees.

Where is Moog moving to? ›

ASHEVILLE, N.C. (WLOS) — Moog Music has announced that it's finalized the details of moving into the Citizen-Times Building in Asheville, and that the company, purchased by inMusic over the summer, will expand its Weaverville facility. In September 2023, Moog faced a number of layoffs.

Where is the WLOS studio? ›

WLOS maintains studios on Technology Drive (near I-26/US 74) in Asheville and a transmitter on Mount Pisgah in Haywood County, North Carolina. WLOS-TV began broadcasting in September 1954 as the ABC affiliate for Asheville and most of the western Carolinas and the city's second TV station.

Where is Asheville Drum Circle? ›

Stop by the Asheville Drum Circle every Friday night (April-October, and warmer nights other months) in Pritchard Park in downtown on Patton Avenue at College Street.

How much does the CEO of Moog make? ›

Moog's CEO is Pat Roche, appointed in Feb 2023, has a tenure of 1.42 years. total yearly compensation is $6.02M, comprised of 14.8% salary and 85.2% bonuses, including company stock and options. directly owns 0.08% of the company's shares, worth $5.08M.

Is Moog employee owned? ›

“As part of the acquisition, Moog Music is no longer employee owned,” according to a statement by Moog Music. “All past and present employees who have participated in the Moog Music Employee Stock Ownership Program since it was implemented in 2015 will receive a payout as part of this transition."

Who is Moog music competitor? ›

Moog's competitors and similar companies include Dream, Burmester Audiosysteme, Vanguard Audio Labs and IK Multimedia.

Was Moog bought out? ›

Moog Music announced it had been acquired by inMusic, a Cumberland, Rhode Island–based company that owns various brands in DJ and professional audio equipment.

How many people does Moog employ? ›

The facility hosts design engineering, manufacturing and aftermarket support functions. The business has grown to over 700 employees with over 250,000 square feet at three locations in Torrance including the main facility on Western Avenue.

Did inMusic buy Moog? ›

Moog Music has been acquired by Rhode Island-based DJ and pro-audio music production conglomerate, inMusic.

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