In Summer 2006, Guitar Center acquired four stores in Texas from the popular South Texas and Central/South American company, Hermes. The same year, Guitar Center, Inc., started The Fender Music Foundation, a nonprofit organization that supports music education. acquired Music & Arts, the largest band & orchestra dealer in the United States, and merged their American Music Group chain of band and orchestral stores into Music & Arts (as the company was renamed). Musician's Friend became a wholly owned subsidiary, and remained headquartered in Medford, Oregon. In 2000, Guitar Center acquired mail order and e-commerce retailer Musician's Friend for $50 million, asserting that the merged company was the world's largest seller of musical instruments. The following year, with 30 stores on the West Coast and in Michigan, Ohio, and Florida, Guitar Center made an initial public offering of stock and began opening new locations at an increased rate.
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