Brunswick Corporation : Brunswick Acquires Payne's Marine
Increasing Parts and Accessories Distribution Presence in Canada
LAKE FOREST, Ill. Nov., 18, 2016 - Brunswick Corporation (NYSE: BC) announced
today it has acquired the assets of Payne's Marine Group of Victoria, British
Columbia, a leading wholesale distributor of marine parts and accessories (P&A)
in Canada. Terms of the transaction were not disclosed.
Payne's had sales of approximately USD$17 million in 2015. Payne's marine
distribution business will become part of Brunswick's global P&A distribution
business, which is operated by Brunswick's Mercury Marine division, based in
Fond du Lac, Wis.
With strategically located distribution facilities in British Columbia and
Ontario, Payne's Marine provides broad geographic coverage as well as timely
delivery services, technical expertise and support to customers across Canada.
It will be integrated into Mercury Marine's P&A distribution network in Canada,
augmenting the presence of Mercury's Land 'N' Sea Canadian channels,
particularly in Western Canada where Mercury Marine has made other recent
investments, such as a new distribution center in Langley, British Columbia.
"The two companies together will extend both the reach and value of our global
P&A distribution network," explained Mercury Marine President John C. Pfeifer.
"Further, we believe leveraging the unique expertise of each operation will lead
not only to cost and revenue synergies, but also will further accelerate our
growth in the important Canadian marine market."
"Our current strategy, as outlined at Brunswick's update to the financial
community in November 2015, is to grow both our core marine and fitness
businesses, while augmenting such growth through acquisitions primarily in
fitness and marine P&A," explained Brunswick Chairman and Chief Executive
Officer Mark D. Schwabero. "This action continues the execution of that
strategy, and marks the latest acquisition that we have made recently to expand
our P&A distribution network's global reach into both segments and geographic
areas that offer opportunity, following the acquisition of Bell Recreational
Products Group in the Midwest, and BLA in Australia in 2014 and 2015,
respectively."
The Payne's Marine acquisition will have minimal impact upon Brunswick's 2016
results.
About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation's leading consumer
brands include Mercury and Mariner outboard engines; Mercury MerCruiser
sterndrives and inboard engines; MotorGuide trolling motors; Attwood, Garelick
and Whale marine parts and accessories; Land 'N' Sea, Kellogg Marine, BLA and
Payne's Marine parts and accessories distributors; Bayliner, Boston Whaler,
Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris,
Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet
and Uttern; Life Fitness, Hammer Strength, Cybex, Indoor Cycling Group and
SCIFIT fitness equipment; InMovement products and services for productive well-
being; and Brunswick billiards tables, accessories and game room furniture. For
more information, visit http://www.brunswick.com.
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| Contact: Daniel Kubera |
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| Director - Media Relations and Corporate Communications |
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| Phone: 847-735-4617 |
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| Email: daniel.kubera@brunswick.com |
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Source: Brunswick Corporation via GlobeNewswire
Released November 18, 2016