Latitude Industries set to buy boating supply retailer

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Latitude Industries has successfully completed due diligence of the acquisition of ChampionMarineUSA.com and the purchase is scheduled to close by Sept. 24, the company announced.

"We are excited to complete this acquisition because of the effect the combination of our company with theirs will produce, since the additional sales potential to both of us is critical to drive the growth of both our businesses," said Carolina Hernandez, CEO of Latitude Industries, in a statement.

ChampionMarineUSA.com carries more than 19,000 marine parts, accessories and electronics, as well as clothing items, and it has gross revenues of $500,000 and about 2,500 customers.

"The acquisition offers Latitude the prospect of being able to use the Latitude Powerboats customer database to offer the ChampionMarineUSA.com products while simultaneously making it possible to gain revenues to Latitude Industries Inc. overall from the large ChampionMarineUSA.com customer database," the company said in a statement.

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