Guitar Center to draw on existing loan for purchase of some Hermes assets

By Sara Rosenberg

New York, May 22 - Guitar Center Inc. plans on drawing on its existing credit facility to help fund the acquisition of certain of the assets of Hermes Trading Co. Inc., a Texas-based musical instruments distributor and retailer, according to a company news release.

The acquisition includes four retail locations in Texas - San Antonio, McAllen, Laredo and Brownsville.

Closing is expected to occur in the second quarter.

Guitar Center is a Westlake Village, Calif.-based retailer of guitars, amplifiers, percussion instruments, keyboards and pro-audio and recording equipment.

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