Premier Marine finalizes purchase of two brandsPosted on
Pontoon builder Premier Marine Inc. said it completed the acquisition of Weeres Industries and Palm Beach Marinecraft.
The sale closed July 29 and the terms were not released.
“The purchase of these two strong brands will further expand Premier’s selection of pontoon boats to our dealers,” Tom Menne, newly appointed vice president of Palm Beach/Weeres and former vice president of Premier, said in a statement.
Weeres Industries was formed in Richmond, Minn., in 1952. Palm Beach Marinecraft was founded in 1957 and acquired by Weeres in 1985. Both companies build pontoon boats, swimming rafts and water bikes and are based in New Ulm, Minn.
The Weeres and Palm Beach brands will continue to run as independent businesses and operate in New Ulm.
The Premier and Leisure brands will continue to operate independently at their headquarters in Wyoming, Minn.
Weeres and Palm Beach will retain their names, but will be wholly owned subsidiaries of Premier Marine under the terms of the sale.