Bénéteau Group acquires Rec Boats brands

Bénéteau Group closed on a deal Monday to purchase the Rec Boat Holdings family of brands including Four Winns, Glastron, Wellcraft and Scarab.

“This acquisition is in line with the Group’s development strategy for the North American motorboat market. After launching sales of motorboats over 12 meters in 2010, the Group is embarking on the second phase of its project, with motorboats under 12 meters, which requires an industrial investment in America,” the company said in a statement.

Rec Boat Holdings, based in Cadillac, Michigan, has revenues of about $150 million employs 475 people and has a network of more than 200 dealers, Bénéteau said.

Rec Boat Holdings was formed by Platinum Equity in 2010 after it purchased the brands out of the Genmar Holdings bankruptcy.

Since 2010, the company has been lead by Roch Lambert, Boating Industry’s 2013 Mover & Shaker of the Year. So far, there has been no indication of any changes to the management team.
For Bénéteau, this represents its first entry into the small powerboat market.

Bénéteau Group also owns the Bénéteau, Jeanneau, Lagoon, Prestige and Monte Carlo brands, as well as a European homebuilding division. In 2012-13, sailboats accounted for 41 percent of the group’s revenue, motorboats accounted for 36 percent and housing was responsible for 23 percent, according to the company.
 

By Jonathan Sweet through boatingindustry.com