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Cyclops 2022 May LEADERBOARD

Brunswick Corporation enters next phase of shared-access and pre-owned boat strategy with southeast

by Brunswick 21 Apr 17:36 PDT
Brunswick Corporation © Brunswick Corporation

Brunswick Corporation (NYSE:BC) announced today that it has reached an agreement to acquire a portfolio of marine assets in the Southeast United States including the greater Atlanta area to expand shared access, advance its "Boating-as-a-Service" eco-system strategy with subscription based models and fortify plans to establish a regional marine operating center that will support Freedom Boat Club and Boateka.

This acquisition provides on-water infrastructure, points of distribution, an experienced team and a successful portfolio of boater services that will serve as an innovation hub for the future of digitally led boater engagement and, over time, marine electrification.

The specific transaction includes: the Freedom Boat Club of Lake Hartwell Franchise territory with two club locations; four marinas; and Eclipse Marine Group, a leading boat dealer in the Southeast with four locations. All the assets are part of J&R Marine Holdings. Terms of the deal were not disclosed.

Brunswick today also announced that Freedom Boat Club will acquire the Freedom Boat Club of Lake Lanier franchise operations and territory. With the two club locations from the J&R acquisition and the two on Lake Lanier, Freedom Boat Club immediately bolsters its Southeast "Super Territory" creating geographic and operational efficiencies in this market as part of its network of more than 340 locations worldwide.

These acquisitions enable opportunities across a wide spectrum, building upon the growth Brunswick has cultivated throughout its shared access portfolio and new digital platforms. It delivers an expanded suite of offerings for boaters: not just pre-owned boat sales, which aligns with our Boateka offering, but also a full suite of other boater services.

"This acquisition marks a transformational step in our strategy to win with boaters over their lifetime - to enable frictionless transitions between ownership and shared participation models, elevate the boating experience and retain boaters on the water longer," said Brenna Preisser, Brunswick Corporation, President of Business Acceleration. "It will also serve as an on-water innovation center for our electrification strategy."

"Brunswick Corporation is the largest and most well-known name in the marine industry, and we couldn't be happier to be joining such an innovative and well-established company," said Allen Revak, J&R Marine Holdings' President. "Our established marinas, brands, and dealerships, along with the size and scale of Brunswick, will amplify and increase our customer experience to heights we never thought imaginable. There are incredible opportunities for Brunswick to continue to grow within the marine space, building around the boater and gaining significant learnings through owning and operating our businesses. I look forward to joining the Brunswick team and continuing to run our very successful business here in the Southeast."

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