Significant storage capacity complements MarineMax’s other locations in the region
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat, yacht, and superyacht services company, today announced the acquisition of C&C Boat Works, a full-service boat dealer in Crosslake, Minnesota. The transaction expands MarineMax’s footprint in Minnesota to five locations.
For more than 60 years, family-owned C&C Boat Works has provided Minnesota’s Whitefish Chain of Lakes with outstanding customer service and premium brands. The dealership features boats from Barletta, Cobalt, Harris, and Nautique, among others. With over 1,000 feet of lakeshore, C&C Boat Works has indoor and outdoor storage for more than 600 boats, complementing its service and storage operations with full-service marina amenities.
Brett McGill, MarineMax Chief Executive Officer and President, stated, “We are excited to welcome C&C Boat Works to the MarineMax family. This is a business we have known for many years, one that shares our team-focused culture and dedication to service excellence. The addition of C&C Boat Works, which follows our 2021 acquisition of Nisswa Marine, enhances our ability to serve customers and realize further efficiencies across our operations in the region. With an annual economic impact of $6.9 billion, recreational boating is important to Minnesota and a prime passion for its residents. We are thrilled to expand our presence there.”
Brad Nelson, C&C Boat Works CEO and Owner, stated, “Its passion for the boating lifestyle, extensive resources, and established industry leadership make MarineMax the ideal partner for us as we continue driving the expansion of our business in north central Minnesota. This combination offers tremendous benefits to both our customers and the C&C team. We are delighted to become part of the MarineMax family.”
As the world’s largest lifestyle retailer of recreational boats and yachts, as well as yacht concierge and superyacht services, MarineMax (NYSE: HZO) is United by Water. We have more than 125 locations worldwide, including 78 dealerships and 58 marinas. Our integrated business includes IGY Marinas, which operates luxury marinas in yachting and sport fishing destinations around the world; Fraser Yachts Group and Northrop & Johnson, leading superyacht brokerage and luxury yacht services companies; Cruisers Yachts, one of the world’s premier manufacturers of premium sport yachts and motor yachts; and Intrepid Powerboats, a premier manufacturer of powerboats. To enhance and simplify the customer experience, we provide financing and insurance services as well as leading digital technology products that connect boaters to a network of preferred marinas, dealers, and marine professionals through Boatyard and Boatzon. In addition, we operate MarineMax Vacations in Tortola, British Virgin Islands, which offers our charter vacation guests the luxury boating adventures of a lifetime. Land comprises 29% of the earth’s surface. We’re focused on the other 71%. Learn more at www.marinemax.com.
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the Company’s ability to realize further efficiencies across its operations in the Minnesota region as a result of the acquisition of C&C Boat Works. These statements are based on current expectations, forecasts, risks, uncertainties, and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions, and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the performance and integration of the recently-acquired businesses, general economic conditions, as well as those within the Company's industry, the level of consumer spending, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2022 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Investors: Mike McLamb
Chief Financial Officer
Scott Solomon or Laura Resag
Sharon Merrill Associates, Inc.