Ski-Doo parent company BRP Inc. announced this morning the purchase of the Alumacraft Boat company and the creation of a Marine Group within its company. Financial terms of the purchase have not yet been announced.
Alumacraft, a private manufacturer of aluminum fishing boats based in St. Peter, Minnesota, with an additional factory in Arkadelphia, Arkansas, has had several owners over the years – most recently it was purchased in 2012 by the Corinthian Capital Group, a private equity company based out of New York.
Alumacraft has been producing boats since 1946, though the overall company history dates back to 1893. Within the aluminum boat market, its product line is varied, from small jon boats and utility craft to nicer bass boats and its Trophy Series which has models with MSRPs topping $50,000.
All, however, rely on outboard power, making it fit in nicely with BRP’s Evinrude motor division. Alumacraft has an estimated $33 million in annual sales and about 250 employees, according to various online business monitoring sites, though as a private company Alumacraft isn’t required to publicly disclose such information.
The BRP/Alumacraft announcement comes 29 days after Polaris’ announcement that it had reached a purchase agreement to acquire Boat Holding LLC, maker of the Bennington, Godfrey, Hurricane and Rinker brands of pontoon, deck and cruiser boats. BRP was rumored to have also been a bidder for Boat Holdings LLC.
The new Marine Group within BRP will be led by Tracy Crocker, who joined BRP a year ago after spending five years at Arctic Cat overseeing that brand’s ATV division.
Here’s the press release from BRP:
BRP Acquires Alumacraft and Creates a New Marine Group
VALCOURT, Quebec, June 28, 2018 — BRPannounced today the creation of the Marine Group with the acquisition of Alumacraft Boat, the premier private North American manufacturer of aluminum fishing boats, based in St. Peter, MN.
By solidifying its position in the marine market through a boat company acquisition to complement its outboard engine portfolio, BRP will aim to eventually transform the marine business worldwide with its world-renowned technical expertise, design prowess and ingenuity. Tracy Crocker, Senior Vice-President and General Manager of Evinrude Outboard Motors since 2017, is being appointed President of the Group, effective immediately.
This acquisition will allow BRP to leverage the strength and reputation of two iconic marine industry players with Alumacraft’s extensive boating know-how bringing exceptional boating experiences to its customers since 1946 and Evinrude’s superior value and quality for over 110 years. Alumacraft is known as one of the first companies to build aluminum boats for fishing and recreation with a truly innovative design for the times, and the introduction of the revolutionary 2Xb hull. It is now employing over 250 people in two U.S. locations and has a network of 275+ dealers around the globe. With BRP’s state-of-the-art manufacturing know-how, aluminum expertise and innovation track record, the addition of Alumacraft will enable us to, over time, continue to transform the customer experience, drive opportunities for our dealers and provide overall efficiencies to the new BRP Marine Group.
“This acquisition is a natural first step for our newly formed Marine Group,” said José Boisjoli, BRP President and CEO. “In the short term, we plan to focus on network optimization to leverage the strengths of both product lines and gradually reinforce our presence in the industry. Along with our recognized approach to innovation and design expertise, we hope to eventually transform this industry and do for the marine business what we have done for the powersports business.”
“We are pleased to welcome Alumacraft and its team to the BRP family and together we will build our Marine Group to support our goal to become a leading marine company,” said Tracy Crocker. “As always, our key objective is to provide high quality, innovative boats and engines that help families create unforgettable memories on the water. With the great people and thinking at Evinrude and at Alumacraft, we are definitely set up for success.”
For additional information on Alumacraft, visit alumacraft.com.
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