Brunswick Buys Albemarle!
Posted: March 3rd, 2005, 8:39 am
Brunswick Acquires Albemarle Boats Joining Hatteras to Target Offshore Sportfishing
Wednesday March 2, 9:00 am ET
LAKE FOREST, Ill., March 2 /PRNewswire-FirstCall/ -- Brunswick Corporation (NYSE: BC - News) announced today it has acquired Albemarle Boats as part of its strategy to offer a complete range of offshore sportfishing boats from 24 to 90 feet. Terms of the transaction were not disclosed. Founded in 1978, Albemarle builds offshore sportfishing boats from 24 to 41 feet at its production facility and headquarters in Edenton, N.C.
"Popular and highly respected, the Albemarle line-up is a perfect complement to our family of premier Hatteras sportfishing convertibles and motoryachts," explained Brunswick Chairman and Chief Executive Officer George W. Buckley. "It is an important part of our stated strategy to 'fill out the white spaces' within our product portfolio to support our dealer network and provide a boat for virtually any type of boater. While preferred by serious sportfishing enthusiasts, our Hatteras product portfolio begins at 50 feet. With Albemarle we will serve a greater range of sportfishing boaters as well as introduce them to Brunswick quality and innovation at an earlier stage in the ownership experience than is currently available with only Hatteras."
"We have found that boaters often will stay with Brunswick boats and migrate to our other brands as their needs and desires, often for a larger craft, evolve," explained Dustan E. McCoy, president of the Brunswick Boat Group. "With seven models between 24 and 41 feet, Albemarle offers us ample and attractive opportunity to serve this segment of the sportfishing market. Furthermore, much like Brunswick, Albemarle has a rich tradition and history of boatbuilding experience. Albemarle's focus on quality and innovation as well as its guiding principles, which emphasize customer satisfaction and continuous improvement, are right in line with our thinking at the Brunswick Boat Group."
Albemarle's 135 employees and production facility will remain based in Edenton and will become part of the Hatteras Group, which will be headed by William C. Naumann. Hatteras is based in New Bern, N.C. Scott "Scotty" Harrell, Jr., will remain as president of Albemarle, reporting to Naumann, who will also continue as president of Hatteras.
"We are extremely pleased that Scotty and his team will be staying with Albemarle," Naumann said. "Scotty has been at the helm since 1990, and during that time has overseen a period of unparalleled growth and expansion at Albemarle."
About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill "Genuine Ingenuity"â„¢ in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Teignbridge propellers; MotoTron electronic controls; Northstar marine electronics; Navman marine and GPS-based products; IDS dealer management systems; Sea Ray, Bayliner, Maxum, Hatteras, Meridian, Sealine, Bermuda, Ornvik, Quicksilver, Savage and Uttern pleasure boats; Baja high-performance boats; Albemarle, Arvor, Boston Whaler, Palmetto, Sea Boss, Sea Pro and Trophy offshore fishing boats; Crestliner, Lowe, Lund and Princecraft aluminum fishing, deck and pontoon boats; Attwood marine parts and accessories; Land 'N' Sea marine parts and accessories distributor; Life Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling centers, equipment and consumer products; Brunswick billiards tables; and Valley-Dynamo pool, Air Hockey and foosball tables. For more information, visit http://www.brunswick.com .
Brunswick buying left and right, sure hope all these brands do not end up as "BAYLINERS".
Wednesday March 2, 9:00 am ET
LAKE FOREST, Ill., March 2 /PRNewswire-FirstCall/ -- Brunswick Corporation (NYSE: BC - News) announced today it has acquired Albemarle Boats as part of its strategy to offer a complete range of offshore sportfishing boats from 24 to 90 feet. Terms of the transaction were not disclosed. Founded in 1978, Albemarle builds offshore sportfishing boats from 24 to 41 feet at its production facility and headquarters in Edenton, N.C.
"Popular and highly respected, the Albemarle line-up is a perfect complement to our family of premier Hatteras sportfishing convertibles and motoryachts," explained Brunswick Chairman and Chief Executive Officer George W. Buckley. "It is an important part of our stated strategy to 'fill out the white spaces' within our product portfolio to support our dealer network and provide a boat for virtually any type of boater. While preferred by serious sportfishing enthusiasts, our Hatteras product portfolio begins at 50 feet. With Albemarle we will serve a greater range of sportfishing boaters as well as introduce them to Brunswick quality and innovation at an earlier stage in the ownership experience than is currently available with only Hatteras."
"We have found that boaters often will stay with Brunswick boats and migrate to our other brands as their needs and desires, often for a larger craft, evolve," explained Dustan E. McCoy, president of the Brunswick Boat Group. "With seven models between 24 and 41 feet, Albemarle offers us ample and attractive opportunity to serve this segment of the sportfishing market. Furthermore, much like Brunswick, Albemarle has a rich tradition and history of boatbuilding experience. Albemarle's focus on quality and innovation as well as its guiding principles, which emphasize customer satisfaction and continuous improvement, are right in line with our thinking at the Brunswick Boat Group."
Albemarle's 135 employees and production facility will remain based in Edenton and will become part of the Hatteras Group, which will be headed by William C. Naumann. Hatteras is based in New Bern, N.C. Scott "Scotty" Harrell, Jr., will remain as president of Albemarle, reporting to Naumann, who will also continue as president of Hatteras.
"We are extremely pleased that Scotty and his team will be staying with Albemarle," Naumann said. "Scotty has been at the helm since 1990, and during that time has overseen a period of unparalleled growth and expansion at Albemarle."
About Brunswick
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill "Genuine Ingenuity"â„¢ in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Teignbridge propellers; MotoTron electronic controls; Northstar marine electronics; Navman marine and GPS-based products; IDS dealer management systems; Sea Ray, Bayliner, Maxum, Hatteras, Meridian, Sealine, Bermuda, Ornvik, Quicksilver, Savage and Uttern pleasure boats; Baja high-performance boats; Albemarle, Arvor, Boston Whaler, Palmetto, Sea Boss, Sea Pro and Trophy offshore fishing boats; Crestliner, Lowe, Lund and Princecraft aluminum fishing, deck and pontoon boats; Attwood marine parts and accessories; Land 'N' Sea marine parts and accessories distributor; Life Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling centers, equipment and consumer products; Brunswick billiards tables; and Valley-Dynamo pool, Air Hockey and foosball tables. For more information, visit http://www.brunswick.com .
Brunswick buying left and right, sure hope all these brands do not end up as "BAYLINERS".
