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Legendary saxophone maker Selmer to sell majority stake to fund

Reuters  |  PARIS 

PARIS (Reuters) - The legendary saxophone maker Henri Selmer Paris said on Wednesday it would sell a majority stake to an investment fund, ending more than 130 years of family control over the firm.Founded in 1885, the company has remained in the Selmer family's hands since then, but some of its 55 shareholders have decided to sell out to investment fund Argos Soditic, it said in a statement.The company, which has a staff of 500 and booked revenues of 35 million euros ($41.90 million)in 2017, said bringing in the fund as a shareholder would help it tap into growing demand in the face of ...

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First Published: Wed, January 10 2018. 22:15 IST