NIMBUS TO ACQUIRE JOINT VENTURE INTEREST IN BELLA BOATS FROM BRUNSWICK CORPORATION
Dec 11, 2018
Mercury Marine has announced that its parent company, Brunswick Corporation (NYSE: BC), has entered into an agreement with Sweden-based Nimbus Boats, which will acquire the company’s joint venture interest in Finland-based Bella Boats. Financial terms of the deal were not disclosed.
For the past 15 years, Mercury Marine has benefitted from this successful joint venture with Bella Boats, led by founder Raimo Sonninen. The acquisition is expected to close before the end of the year, subject to the usual and customary closing conditions. It will provide Nimbus ownership of all Bella brands including Bella, Flipper, Falcon and Aquador.
“This is a great opportunity for Bella and Nimbus to join forces to form a very powerful boating portfolio,” said Jan-Erik Lindström, Nimbus Managing Director. “The Bella brands complement the Nimbus portfolio and with Mercury powering our vessels, we are confident that this is an opportunity that will not only delight our customers, but also allow us to take advantage of the synergies among the different brands.”
Bella Boats will continue to operate as a strategic partner with Mercury under Nimbus ownership, and Sonninen will continue to support the business in an advisory role.
“Bella Boats has been a great partner for Mercury in key European markets,” said Marty Bass, president of EMEA for Mercury Marine. “We couldn’t be more excited about the opportunity to continue the Bella relationship through Nimbus. Nimbus and Mercury both share a passion for innovation and quality, and we are pleased that Raimo Sonninen will continue to be part of this arrangement through Nimbus.”
Nimbus just recently premiered three new models at the Ft. Lauderdale International Boat Show, the Weekender 9, the Tender 9 and the Commuter 9. The Nimbus Weekender 9 has been nominated for the European Powerboat of the Year Award.
