MERCURY AND LAND’N’SEA BUY PAYNES MARINE IN BC
Nov 21, 2016
Mercury Marine, the world leader in recreational, commercial and government marine propulsion, has announced that its parent company, Brunswick Corporation (NYSE: BC), has acquired Payne’s Marine Supply Inc., one of Canada’s leading national wholesale distributors of quality marine supplies. The acquisition will allow Mercury Marine to grow its global parts and accessories (P&A) distribution network and better serve customers across Canada. Payne’s Marine reported revenue of more than CAD $22 million in 2015. Terms of the deal were not disclosed.
“We continue to look for opportunities to grow our distribution channels around the world, and Western Canada is one of the areas that we had targeted for growth,” said Mike Gyorog, Mercury Marine vice president global service & marine parts and accessories. “Adding Payne’s Supply and its well-established distribution channels will allow us to better serve our customers.”
Payne’s Marine is comprised of Payne’s Marine Supply Inc., Westport Sales Ltd., and Payne’s Distributors Inc. The company offers a broad selection of over 34,000 marine supplies for sail and power boats. Payne’s Marine has three warehouse facilities in British Columbia (Victoria, Burnaby, and Campbell River) as well as one facility in Oakville, Ontario.
“Having Payne’s Marine in our portfolio will not only fortify our distribution networks in Canada, but will also allow us to leverage their knowledge in a variety of channels such as big boats, sail boats and government applications,” said Georges Jalbert, Mercury Marine Canada general manager.
Payne’s Marine will be integrated into Mercury Marine’s P&A network in Canada, augmenting the presence of its Land ‘N’ Sea Canadian channels, particularly in Western Canada where Mercury Marine has made other investments recently.
Payne’s Marine has about 50 employees who will all be transitioned into Mercury Marine.
About Mercury Marine
Headquartered in Fond du Lac, Wis., Mercury Marine is the world’s leading manufacturer of recreational, commercial and government marine propulsion engines. A $2 billion division of Brunswick Corporation (NYSE: BC), Mercury provides engines, boats, services and parts for recreational, commercial and government marine applications, empowering boaters with products that are easy to use, extremely reliable and backed by the most dedicated customer support in the world. Mercury’s industry-leading brand portfolio includes Mercury and Mariner outboard engines; Mercury MerCruiser sterndrive and inboard packages; MotorGuide trolling motors; Mercury propellers; Mercury inflatable boats; Mercury SmartCraft electronics; Attwood marine parts; Land ‘N Sea marine parts distribution; and Mercury and Quicksilver parts and oils. More information is available at mercurymarine.com.
