Skip to main content

MarineMax acquires Fraser Yachts from Azimut Benetti Group

Fraser has an international presence in locations including Fort Lauderdale, Spain, Seattle, Kuwait, Sydney and Hong Kong. Shown here is the Monaco location.

Fraser has an international presence in locations including Fort Lauderdale, Spain, Seattle, Kuwait, Sydney and Hong Kong. Shown here is the Monaco location.

MarineMax entered into an agreement to acquire Fraser Yachts Group from the Italy-based Azimut Benetti Group.

The transaction is expected to be accretive in its first full year.

Additionally, MarineMax strengthened its relationship with the Azimut Benetti Group by expanding with Benetti Yachts, through a multiyear dealership agreement, to become its exclusive dealer for the Benetti Class of yachts in North America.

Fraser, founded in 1947, is based in Monaco and operates through 20 offices around the world with more than 160 team members.

Fraser offers yacht brokerage, yacht chartering, yacht management, crew placement and new build consultation.

Its presence in Monaco and Fort Lauderdale, Fla., provides the organization with a base from which to operate and provide its services worldwide, according to MarineMax.

The entire Fraser team is remaining in place and will continue to operate and manage activities. Additionally, directors Paolo Vitelli and Roberto Giorgi will remain with Fraser in an advisory capacity.

Azimut, founded in 1969 by Paolo Vitelli, acquired Benetti in 1985. MarineMax has represented the Azimut brand in the United States since 2006.

"The acquisition of Fraser is significant for MarineMax as it dramatically increases our presence and strength in the strategically important superyacht category,” said MarineMax president and CEO Brett McGill in a statement. “Second, it expands our international capabilities and footprint, unlocking other potential future opportunities. We are happy that Paolo and Roberto will remain with Fraser as their years of experience are invaluable.

“We are also very excited to add the Benetti Class of yachts to our luxury motoryacht offering,” McGill added. “The history and product of Benetti separates the brand from other yachts and will allow for a great migration for many of our customers who are seeking larger and more luxurious yachts.”

Paolo Vitelli, CEO and chairman of the Azimut/Benetti Group, stated, “MarineMax has been a valued partner of the group. MarineMax’s unrivaled success through many years makes it the best possible owner of Fraser for the future. Strategically, becoming independent from the group will favor the development of the commercial relationship of Fraser around the world.”

The acquisition is subject to the customary completion of certain legal requirements in Europe and is expected to be completed in stages over the next few weeks.

MarineMax will provide an update to its fiscal 2019 guidance in its June quarter 2019 earnings release.

Related

VOLVO-EARNINGS

Volvo Penta Reports Q4, FY22 Results

Net sales of $470 million for the quarter were a 33% increase compared to the prior year period.

Pulse-Report

DEALERS: Are You Improving the Service Experience?

Our monthly Pulse Report survey asks this and other questions about your dealership. Take the survey here.

NMRA-SCHOLARSHIP

NMRA Sets Scholarship Deadline

Students pursuing education in the marine trades can apply for the National Marine Representatives Association awards until April 1.

MARINE-PRODUCTS

Marine Products Reports Record Q4

The builder of Chaparral and Robalo boats reported net sales were up 42% for the quarter and 28% for fiscal year 2022.

1_SHURHOLD

Shurhold Appoints COO

Forrest Ferrari has years of management, business development, IT and quality-assurance experience.

MOBILE-CATCH-CENTER

RBFF, Pure Fishing Partner for a First Catch Center

Pure Fishing will equip a mobile trailer with tackle and gear to bring fishing experiences to areas of South Carolina where participation is low.

Norm

An Oft-Overlooked Sales Opportunity

A recent report from the Recreational Boating & Fishing Foundation showed that women comprise 37% of all anglers. If you haven’t tapped this segment, you’re missing out.

1. 2023 new boat retail outlook

Too Many High-Priced Boats

To wrap up 2022, marine retailers reported lower demand, expressed more negative sentiment and voiced concerns about rising inventory. Boat prices and the economy remained top of mind for dealers in December.

Soundings Nov 2022

New-Boat Registrations Continue to Slide

As the gaudy sales figures from the pandemic continue to return to more realistic numbers, the main segments of the recreational boating industry saw new-model registrations of 4,421 in November, a 30.3% drop from 6,340 during the same time in 2021. .