Tweeter gets Sound Advice

CANTON, Mass. (Bloomberg) — Tweeter Home Entertainment Group Inc., the consumer-electronics
retailer that bought SMK Marketing Inc., agreed to buy Sound Advice Inc. for about
$117 million to add 33 stores in Florida and Arizona. Under the terms of the transaction,
each of Sound Advice’s 4.07 million shares will be converted to one Tweeter share,
based on the average closing price from Aug. 27 to Aug. 31, Tweeter spokeswoman
Anne-Marie Boucher said. The transaction is expected to close around Sept. 1.
Sound Advice owns 24 Sound Advice, five Bang & Olufsen and one Electronics
Interiors store in Florida. The home-electronics retailer also runs two Showcase
stores in Scottsdale and Chandler, Arizona, and a home theater showroom at a Sears,
Roebuck and Co. store in Arizona. Dania Beach, Florida-based Sound Advice has
annual sales of about $200 million.