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Brunswick Corporation continues to execute on its next wave strategy

by Brunswick 14 Jul 07:41 PDT
Brunswick Corporation © Brunswick Corporation

During its 2021 Investor Day presentation in May, Brunswick Corporation (NYSE: BC) unveiled the "Next Wave" of the Company's strategy highlighting the next phase of business evolution, products, technologies, unique experiences, and enterprise synergies. Brunswick has already begun to elevate the boating experience and appeal to an expanded demographic through execution of its ACES (autonomous, connected, electrification, shared access) strategy and other consumer-focused initiatives.

In the few months since the May roll-out of the Next Wave strategy, Brunswick has executed a series of actions that represent significant proof-points:

  • Brunswick entered into definitive agreement to acquire Navico and its four leading brands (Simrad, Lowrance, B&G and C-MAP) that immediately accelerates Brunswick's ACES strategy and solidifies the Company's commitment to acquire businesses that strengthen Brunswick's ability to provide complete, innovative digital solutions to OEM customers.
  • In late June, Mercury Marine officially released for sale and shipment the world's most innovative and powerful outboard engine - the new 7.6L V12 600HP Verado.
  • The launch of the "MyWhaler" and "Sea Ray+" apps which are now available for Apple and Android users, advances the ACES Connectivity strategy by improving the boat ownership experience, reducing friction across the entire ownership journey.
  • Freedom Boat Club acquired Fanautic Club, one of the largest European boat clubs with 23 locations across Spain, accelerating Brunswick's shared-access expansion across Europe.
  • The launch of the H22 from Heyday Wake Boats - a new, leading-edge wake-surf model signaling a doubling-down on this fast-growing brand appealing to a younger demographic.
"We are tracking well ahead of our 2022 strategic goals, creating smart, connected products and innovative, personalized experiences that will have long-lasting and positive implications for our Company and the boating industry for years to come," said Dave Foulkes, Brunswick Corporation CEO. "The initiatives we announced during our 2021 Investor Day presentation and our subsequent actions are bringing to life the Next Wave of our strategy even as we continue to experience and respond to extraordinary demand across our portfolio."

In addition to the many initiatives already in flight, Brunswick signaled further major upcoming initiatives during its investor presentation towards the commercialization of ACES, including the announcement that it would launch a number of industry-changing electrification products:

  • Mercury and Advanced Systems Group together will launch five electric propulsion products by 2023, with the first one launching in 2022.
  • Advanced Systems Group expects to have installed 15,000 advanced battery systems replacing internal combustion engine generators by 2023.
  • Brunswick Boat Group will have launched electric boats in four different segments by 2023.
Brunswick plans to showcase its Next Wave strategy during the 2022 Consumer Electronics Show (CES) - an opportunity to bring together Brunswick's ACES strategy with the next evolutions of the Company's award-winning in-market products.

"We will debut some of the electrification and connectivity products that we teased during Investor Day, in addition to some advanced autonomy and visualization concepts," said Foulkes of Brunswick's CES exhibit. "All of this within a deeply immersive and engaging overall experience that will transport visitors from the convention center to richly simulated on-water environments."

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