Brunswick Corp. said Thursday that it completed the previously announced sale of its retail bowling business to Bowlmor AMF for $270 million.
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.
Aluminum-boat manufacturer Crestliner announced the addition of 13 new dealers, including two in Canada and one in the Netherlands.
Brunswick Corp. announced this morning that it acquired distributor Bell Recreational Products Group, a subsidiary of Bell Industries. Terms of the transaction were not disclosed.
Capacity of bigger Brunswick Corp. boat models has been constrained as the company is in ramp-up mode for its new large models, such as the Sea Ray 650.
Second-quarter sales at Brunswick Corp. increased 4 percent from last year to $1.14 billion, up from $1.1 billion in the 2013 quarter, reflecting growth in outboard boats and engines, as well as parts and accessories for the marine segment.
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.
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.