Brunswick: Olympic Boat purchase moving forwardPosted on
Brunswick Corp. said this morning that the purchase of certain assets of Olympic Boat Centers was approved by a court as part of Olympic’s Chapter 11 federal bankruptcy proceedings.
Brunswick will pay approximately $2 million for certain retail assets of Olympic, including the trade name, goodwill and other intangibles. In addition, Brunswick has arranged to transfer certain Olympic boat inventory to a new dealer network in the region.
While the company has “no intention of moving into retail, its participation in the proceedings will facilitate the transfer of Olympic inventory to new distribution and thus will be helpful in continuing to protect its brands and maintain its strong brand presence in the Pacific Northwest and California,” Brunswick said in a statement.
These dealers, and the areas they will serve and brands they will represent, include the following:
• Hipp Marine, Southern California market — Bayliner, Maxum and Trophy
• Lake Union Sea Ray, Seattle area and Western Washington market — Bayliner, Maxum, Trophy and Meridian
• Marine Management, Vancouver, British Columbia — Bayliner, Maxum and Trophy
• M&P Mercury, Vancouver — Meridian
• Newport Boats, Southern California market — Meridian
• Trudeau’s Sea Ray, Spokane area and Eastern Washington market — Bayliner, Maxum, Trophy and Meridian
“We have a very strong brand presence on the West Coast, which is why there are many highly qualified dealers in this territory who desire to represent our brands,” said Andrew Graves, president of US Marine, which includes the Bayliner, Maxum, Meridian and Trophy brands.