Third Amendment to Stock Purchase Agreement among Sun Mackie, LLC, Mackie Designs Inc., Gregory Mackie, and Various Trusts

Exhibit 2.3

THIRD AMENDMENT TO STOCK PURCHASE AGREEMENT

        THIS THIRD AMENDMENT TO STOCK PURCHASE AGREEMENT (this "Amendment") is made as of the 21st day of February, 2003, by and among SUN MACKIE, LLC, a Delaware limited liability company, MACKIE DESIGNS INC., a Washington corporation, GREGORY MACKIE, on behalf of himself and as sole trustee of the Clair Mackie Irrevocable Trust, the Nathalia Mackie Irrevocable Trust, the Christine Radke Irrevocable Trust, and the Kathleen Staples Irrevocable Trust, and C. MARCUS SORENSON and JUDITH B. SORENSON, as co-trustees of the Children of Mathew Adam Sorenson Irrevocable Trust, the Children of Karen Marie Lopez Irrevocable Trust, the Children of Kimberly Kaye Parker Irrevocable Trust, the Mathew Adam Sorenson Irrevocable Trust, the Karen Marie Lopez Irrevocable Trust, the Kimberly Kaye Parker Irrevocable Trust, and the Sorenson Family Trust. Capitalized terms used but not defined herein shall have the meanings given to such terms in the Original Agreement.

        WHEREAS, the parties hereto are parties to that certain Stock Purchase Agreement (as amended by the terms of the First Amendment (as defined below) and the Second Amendment (as defined below), the "Original Agreement"), dated as of January 16, 2003, pursuant to which the Purchaser has agreed to purchase certain shares of the Company's Common Stock from the Company, the Mackie Sellers and the Sorenson Sellers;

        WHEREAS, the parties hereto are parties to that certain First Amendment to Stock Purchase Agreement (the "First Amendment"), dated as of February 7, 2003, pursuant to which the parties made certain amendments to the terms of the Purchase Agreement;

        WHEREAS, the parties hereto are parties to that certain Second Amendment to Stock Purchase Agreement (the "Second Amendment"), dated as of February 13, 2003, pursuant to which the parties made certain amendments to the terms of the Purchase Agreement; and

        WHEREAS, the parties hereto now desire to make certain changes to the provisions of the Original Agreement.

        NOW, THEREFORE, the parties hereto agree as follows:

        1.    Number of Company Shares.

(a)

The reference to 2,391,012 in the first WHEREAS clause of the preamble of the Original Agreement is hereby changed to 6,935,680.



(b)

The reference to 2,391,012 in Section 2.1(a) of the Original Agreement is hereby changed to 6,935,680.



(c)

The reference to $2.63 in Section 2.1(b) of the Original Agreement is hereby changed to "approximately $0.905838."



(d)

The reference to sixty-six percent (66%) in Section 5.3(c) of the Original Agreement is hereby changed to seventy-four percent (74%) and the reference to fifty-two percent in Section 5.3(c) of the Original Agreement is hereby changed to sixty-one percent (61%).



(e)

The reference to $1.02 in Section 8.6(b) of the Original Agreement is hereby changed to $0.90.

        2.    Original Agreement.    The Original Agreement, as amended pursuant to the terms of this Amendment, shall continue in full force and effect after the date of this Amendment.

*        *        *        *        *

        IN WITNESS WHEREOF, the parties hereto have executed this Amendment as of the date first above written.

QuickLinks