M&A Activity • Jun 23, 2014
M&A Activity
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On June 23rd, 2014, the Bénéteau Group acquired RecBoats in the US. This company is specialized in designing, building and selling motorboats and owns the Four Winns, Glastron, Wellcraft and Scarab brands.
This acquisition is in line with the Group's development strategy for the North American motorboat market. After launching sales of motorboats over 12 meters in 2010, the Group is embarking on the second phase of its project, with motorboats under 12 meters, which requires an industrial investment in America. On its own, this segment accounts for nearly 40% of the overall motorboat market in the United States.
Based in Cadillac, Michigan, the company that has been acquired, led by an experienced management team, has revenues of around USD 150 million and employs 475 people. It has a network of over 200 dealers across North America and its entry into the Group will enable it to expand its access to the European and global markets.
RecBoats will be included within the Group's scope from the acquisition date.
The world's number one yacht builder - both mono and multi-hull - the Beneteau Group has continued to make progress on the motorboat market, and is now one of the world's leading players.
On both sail and motorboats, the BENETEAU, JEANNEAU, LAGOON and PRESTIGE brands are able to offer more than 100 models ranging from 20 to 60 feet. The Group has one of the most prestigious names for the custom construction of luxury yachts: CNB. It is expanding its range in the segment for motorboats over 15 meters with Prestige Yachts and Monte Carlo Yachts.
The Group is also a leading player on the European leisure home market, with its O'HARA and IRM brands, and is developing its business on the market for high environmental performance residential housing. With the design and manufacturing of wooden-frame houses, it aims to make quality homes that are affordable and in line with sustainable development standards.
Press information: Image Sept – Claire Doligez [email protected] - Tel: +33 1 53 70 74 25 16 bd de la Mer - BP 319 85803 Saint Gilles Croix de Vie Cedex - France
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