Fender Musical Instruments Corporation announced today that it has finalized the sale of Guild guitars to Cordoba Music Group.

The deal, first announced May 6, brings the 61-year-old acoustic-guitar brand under the wing of CMG, makers of Cordoba acoustic guitars, ukuleles and other accessories. Cordoba is expected to soon shift production of Guild guitars to its facility in Oxnard, California, under the watchful eye of veteran luthier Ren Ferguson, who had overseen the Guild line in recent years for Fender. Ferguson joined Cordoba in May, shortly following the announcement of the impending Guild deal.

Guild was founded in New York in 1953 by Alfred Dronge, a specialist in jazz guitars. The brand enjoyed a heyday of high exposure in the 1960s, as Guild gained particular popularity within the East Coast folk movement and on the West Coast psychedelic scene. Fender purchased Guild in 1995.