Brunswick Logo

On Friday May 17th, Brunswick Corporation (NYSE: BC) announced that as part of the Company’s strategy to expand its presence and scale within the emerging and fast-growing boat club segment, it has entered into a definitive agreement to acquire Freedom Boat Club (FBC), the segment’s largest operator.  Terms of the transaction were not disclosed. 
 
Freedom Boat Club, founded in 1989, is the largest boat club operator and the premier marine franchisor in the nation.  FBC and its franchisees service over 20,000 members, providing them with access to a fleet of nearly 2,200 boats at approximately 170 company-owned or franchised locations across 30 states, Canada and Europe.
 
“As the leader in the boat club segment, Freedom offers both immediate scale and an established marketplace presence and expertise,” said Brunswick Chief Executive Officer David M. Foulkes.  “FBC’s profitable and cycle-resistant business model is an excellent fit within our marine portfolio.
 
“Importantly, FBC strengthens our ability to benefit from the growth in the broader sharing economy and exposes a wider range of consumers to the boating lifestyle. The growth of the marine industry depends on increasing the number of active boating participants and ensuring that they have a great experience on the water,” Foulkes continued.  “This move is a natural extension of our business.   It complements our established and growing engine, parts and accessories and boat portfolio with an emerging set of services to expand and enhance our position.  We want to encourage and lead the pursuit of alternate forms of participation to expand the popularity of boating.” 
 
Following the completion of the transaction, FBC will become part of Brunswick’s Business Acceleration group, which includes Brunswick’s Boating Service Network (BSN).  Through BSN, Brunswick has participated in the boat club and rental market since 2014, establishing a series of partnerships and pilot operations with both select dealers and marina operators.  
 
John Giglio and his experienced management team will continue to lead Freedom Boat Club, which over time has demonstrated a track record of delivering meaningful growth. Over the last five years, FBC has nearly doubled its location footprint and tripled its membership base.
 
“We’re very excited to join Brunswick,” Giglio said.  “Our knowledge and experience of the growing boat club industry, combined with Brunswick’s leading marine resources, will provide FBC and its franchise partners with many new opportunities to accelerate growth and create value, while enhancing the best-in-class boating experience we aim to provide our members.”
 
“The addition of Freedom Boat Club to our leading portfolio of marine brands will allow us to leverage resources and capabilities to create additional growth and value,” said Brenna Preisser, president - Brunswick Business Acceleration. “Our current and prospective franchisees will be supported with a unique suite of new products and services to help them grow and provide exceptional on-water experiences for members.”
 
Foulkes concluded, “Freedom Boat Club is an exciting addition to our portfolio for many reasons. It establishes a leadership position in a growing marketplace, provides an entry point for the next generation of boaters, takes advantage of our existing marine assets, and creates a new cycle-resistant profit stream.”
 
The transaction is subject to customary closing conditions and is expected to close during the second quarter of 2019.

Featured Articles

  • Prev
Announced on June 18, the exciting new Mercury Racing 450R outboard is purpose designed to bring ...
PORTS The Cruising Guides have been acquired from Metroland Printing Publishing & Distributing ...
Orillia’s Spring Boat, Cottage & Outdoor Show at the Port of Orillia and waterfront parks, Lake ...
Seattle’s 41st annual Lake Union Boats Afloat Show gets underway on Thursday, September 12 and ...
The Boating Ontario team would like to thank all those who participated and contributed to this ...
Boating BC is now accepting applications for the Glenn Spartz Scholarship, which offers financial ...
Registration Open: Level 1 Marine Service Technician Training in Sidney and Vancouver ...
Canadian Boat Shows has announced AD ASTRA Media Inc.  as the official publisher for the 2020 ...
ABYC is hosting free events which are perfect mini prep courses for the 2020 Marine ...
Previous IMI webinars included a review of the challenges faced by marinas and boaters as ...

BUSINESS VALUATIONS: THREE SITUATIONS WHEN YOU MIGHT NOT NEED ONE

 

Business ValuationsBy: Patrick Ungashick

Photo Credit: Dwain Bodkin


Business valuations are an important tool for owners and leaders of privately-held companies. For example, if you are doing sophisticated tax planning, buying-out a business partner, or if an owner is going through a marital divorce, then a valuation may be highly prudent—if not legally required. However, business owners and leaders should avoid rushing to get a valuation in circumstances where the need is not clear.

Read more about Business Valuations......

 

Marine Products

  • Prev
Rancho Santa Margarita, CA - Forespar has just introduced a new smaller size version of their ...
Energy Solutions now have available for the North American marine market, a range of Marine ...
Boat decks often seem to bristle with hardware, spoiling the vessel's smooth lines and creating ...
Evinrude announced today the expansion of the revolutionary Evinrude E-TEC G2 product line to ...
Ossian Fasteners has announced that they are the first company in ...
Danish marine safety equipment manufacturer, Daniamant, announces the launch of the ODEO Strobe, a ...
ASA Electronics is bringing modern technology and style to the boating industry with the Marine ...
The W2K-1 transfers data from an NMEA 2000 backbone to any device (e.g. laptop, tablet ...
Boats can never have enough dry storage space, especially places that are safe from the prying eyes ...
B&G, the global leader in design and manufacturing of sailing electronics, announced today ...

People

  • Prev
George Armendariz, CEO of Groupe Beneteau Americas, announced today the appointment of Yannick ...
According to the Minneapolis Star Tribune on April 10 2019, Irwin Jacobs and his wife were found ...
Co2 Inflatables is pleased to announce that Jason Edwards, formerly of Grand/Gala Marine, will be ...
Marine electronics pioneer Darrell Lowrance, 80, passed away Saturday morning after suffering a ...
Extremely popular and well respected for leading the reemergence of Iconic Marine's three ...