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MarineMax Acquires Cruisers Yachts to Strengthen Product Portfolio
Tuesday 04 May 2021

Florida, US-based recreational boat and yacht retailer MarineMax, Inc. (NYSE: HZO) has acquired Wisconsin-based yacht manufacturer KCS International, Inc., (Cruisers Yachts), to fill a void in product portfolio, the company said.

MarineMax paid USD 63m for Cruisers.

Cruisers expanded its production capacity with the purchase of a 216,000 square foot, purpose-built boat manufacturing plant in Pulaski, Wisconsin. The expansion allows Cruisers to more than double its capacity over time.

MarineMax's acquisition of Cruisers Yachts ensures it will always have a premium, American built yacht in its product portfolio.

Prior to the acquisition, MarineMax's financial capacity, consisting of cash and cash equivalents, along with available borrowings under its credit facilities, exceeded USD 400m.

MarineMax is the world's largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services.
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Date Published: 04/05/2021

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