Brunswick Corp. sold its retail bowling business, reaching an agreement Thursday with Bowlmor AMF for about $270 million of gross proceeds after Bowlmor made an unsolicited bid.
Brunswick Corp.’s boat group consists of 15 brands worldwide, including Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris FloteBote, Lowe, Lund, Meridian, Princecraft and Sea Ray. The group’s additional four brands — Rayglass, Uttern, Valiant and Quicksilver — are marketed in countries other than the United States.
Moody’s Investors Service upgraded Brunswick Corp.’s ratings, citing steady improvement in the company’s operating performance and credit metrics.
Brunswick Corp. acquired water movement and heating systems manufacturer Whale, a move the company had hinted at in its attempt to further grow the parts and accessories arm of its marine group.
Brunswick Corp. is “one of the most attractive risk/reward profiles” among the leisure companies covered by Wells Fargo analysts and testing is taking place now for sterndrives built in-house that are due out later this year.
The recent appointment of Mark Schwabero to the newly created post of president and COO of Brunswick Corp. is part of a long-term succession program that will allow CEO Dusty McCoy to retire in 2016.
Brunswick Corp. chairman and CEO Dustan E. McCoy will present at the 15th annual B. Riley & Co. investor conference May 21 at the Loews Santa Monica Beach Hotel in California.
Brunswick Corp. said today that Mark Schwabero was elected to the newly created post of president and chief operating officer and Brunswick Boat Group president Andy Graves will be leaving the company.
Brunswick Corp. CEO Dustan E. McCoy and CFO Bill Metzger had one word for analysts and investors listening in to first-quarter earnings calls Thursday — weather.
Net sales dropped 3 percent in the first quarter at Brunswick Corp., from $995.3 million in 2013 to $969.2 million this year.
Despite being off on estimates that Brunswick’s boat business would begin earning money in 2013, the company projects that the segment will go from losing money to being in the black in 2014, with CEO Dustan E. McCoy predicting operating margins between 4 and 6 percent this year.