Mag Bay Yachts said it plans to expand its manufacturing facility in Southern California.
Acquisitions and Investments
Mergers, acquisitions and startups periodically reshape the marine industry, attracting innovators and other new investors.
Phoenix Trailers said it opened an assembly facility in Tennessee to better serve boat dealers in the region.
Crown International Yacht Sales in Sarasota, Fla., merged with Pier One Yacht Sales, which has five locations in Florida.
Fishing and hunting equipment chain Bass Pro Shops agreed to buy rival chain Cabela’s for $5.5 billion.
Great Lakes Boating magazine, which serves 5 million boaters on the Canadian and U.S. sides of the Great Lakes, was sold to Harris Publishing, which will take over all responsibilities, beginning with the December issue.
Boat membership program SailTime said it is on the 2016 Inc. Magazine 500-5000 list of the top fastest-growing private companies in the United States.
The Navy and Willard Marine signed a licensing agreement for a Willard Marine boat design to serve as the guideline for the Navy’s new 11-meter (36-foot) rigid hull inflatable boat government design.
Wells Fargo completed the purchase of the Australian and New Zealand segments of GE Capital’s Commercial Distribution Finance business.
Dominion Marine Media is being acquired by funds advised by a British private equity advisory firm.
Custom wooden-boat builder and designer Rockport Marine said it acquired the David Jones Yacht Brokerage.