Brunswick Corporation announces the acquisition of Fliteboard
by Brunswick 6 Sep 2023 03:36 PDT
Fliteboard with Fiona in Monaco © Fliteboard
Brunswick Corporation (NYSE: BC) today announced the acquisition of Fliteboard, a leader in eFoiling technology, that will further enhance the Company's industry-leading electrification and shared-access strategies.
Fliteboard, which combines advanced hydrofoils and electric propulsion on the water, allows Brunswick to enter the emerging, electric-foiling surfboard market and presents the opportunity for technological, manufacturing, commercial, and consumer synergies with the existing Brunswick portfolio. Fliteboard will operate as a business within Mercury Marine.
"Fliteboard's exceptional brand appeal and its advanced eFoiling technology align with our ACES strategy, and we are excited to bring the Fliteboard team into the Brunswick family" said Dave Foulkes, Brunswick Corporation CEO. "Fliteboard will allow us to engage with a new wave of customers who will also have the ability to enjoy the entire portfolio of Brunswick products and services over time."
"We have long respected Brunswick's leadership position in the recreational marine market, and this announcement enables us to further enhance Fliteboard's products and customer experience," said David Trewern, founder, and CEO of Fliteboard. "This union of substantial resources including the growth opportunities within Brunswick with Fliteboard's ground-breaking ethos and designs will allow us to amplify our reach to new markets around the world."
Fliteboard, established in 2016, has customers in more than 90 countries who enjoy its products in the Mediterranean and Caribbean, as well as the lakes and rivers of the U.S. and Europe, beaches of Australia, and waterways of Dubai. Fliteboard has won more than a dozen, major awards including a Red Dot Best of the Best award (for product design) and Good Design Gold Award, among others.
"Fliteboard's dedication to inspire and enable the world to 'Take Flite' is a perfect fit for our Next Never Rests mentality," said Foulkes. "We have an opportunity to scale manufacturing and distribution and, over time, begin aligning sub-systems with our Avator electric outboard product line as we attract a new generation to electric mobility on the water."