Home theater audio company Sound United said Friday that it’s previously reported plan to acquire Onkyo Corp.’s consumer audio division and along with it certain distribution rights to the Onkyo, Integra, Pioneer and Pioneer Elite home AV brands has been terminated.

“At this point, we have mutually agreed that it is in the best interest of both organizations to terminate the proposed acquisition,” read a Sound United statement on the agreement. “After months of rigorous work and negotiations, it became apparent that all of the necessary closing conditions could not be satisfactorily achieved.”

Sound United is a DEI Holdings company, a portfolio company of private equity firm Charlesbank Capital Partners. Sound United has amassed a stable of performance audio brands including Denon, Marantz, Polk Audio, Classé, Definitive Technology, Polk BOOM, HE OS, and Boston Acoustics.