MarineMax acquired Treasure Island Marina's retail sales and brokerage operation in Panama City, Fla., which will become the 57th location for MarineMax and its first store in the eastern panhandle of Florida.
The Panama City store focuses on selling cruising and fishing brands, such as Sea Ray, Boston Whaler and Grady White. It also offers yacht brokerage services.
Treasure Island Marine also offers a full-service marina and has the largest boat storage facility in the area. It can hold more than 400 boats.
"This acquisition provides us with an opportunity to establish a presence in the eastern panhandle of Florida while leveraging our Pensacola operations to the west and further strengthening MarineMax's position along the important Gulf Coast boating market," said William McGill Jr., chairman, president and CEO, said in a statement.
"Panama City, with its newly added airport, has strong long-term economic growth opportunities, pristine waters and a well-established boating community, all of which create a great environment for us to establish a MarineMax store and offer our leading customer-centric model to customers in the Panama City area," he added.
Based in Clearwater, Fla., MarineMax is the nation's largest recreational boat and yacht retailer.