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Benzinga
Benzinga
Business
Shivani Kumaresan

Brunswick Agrees To Acquire Marine Assets In Southeast US

Brunswick (Organization) BC (Organization) Lake Lanier NYSE
  • Brunswick Corp (NYSE:BC) has agreed to acquire a portfolio of marine assets in the Southeast U.S. The financial terms of the deal were not disclosed.
  • All the assets being acquired are part of J&R Marine Holdings. The specific transaction includes the Freedom Boat Club of Lake Hartwell Franchise territory with two club locations, four marinas, and Eclipse Marine Group, a boat dealer in the Southeast with four locations.
  • The company expects the deal to expand shared access, advance the Boating-as-a-Service eco-system strategy with subscription-based models and fortify plans to establish a regional marine operating center.
  • Brunswick 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 territory.
  • Brunswick held $367.5 million in cash and equivalents as of December 31, 2021.
  • Price Action: BC shares are trading higher by 2.70% at $81.49 in premarket on the last check Thursday.
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