Skip to main content

MarineMax buys Cruisers Yachts

Coming off a record Q2, the retailer adds the Wisconsin-based builder for a reported $63 million
Cruisers’ larger models fill the void for U.S.-built sport and flybridge yachts that was created when Sea Ray exited that segment in 2018.

Cruisers’ larger models fill the void for U.S.-built sport and flybridge yachts that was created when Sea Ray exited that segment in 2018.

MarineMax announced that it acquired Oconto, Wis.-based KCS International, the parent company of Cruisers Yachts, paying $63 million for the 68-year-old builder.

The announcement of the sale came one week after Cruisers said it had bought the former Carver and Marquis facility, a 216,000-square-foot, purpose-built manufacturing space that will significantly expand production capabilities.

Cruisers has strong ties to MarineMax. Its dealer network includes SkipperBud’s and Silver Seas Yachts, both of which MarineMax acquired last year. With Cruisers’ 16 models from 33 to 60 feet, the acquisition fills a void for U.S.-built sport and flybridge yachts that was created when Sea Ray discontinued its larger models in 2018. It showed revenue of $75 million in 2020.

“Cruisers has a seasoned, passionate and successful team,” MarineMax president and CEO W. Brett McGill said in a statement. “Their industry knowledge and their recent expansion, combined with [our] resources, will enable Cruisers to accelerate its positioning in the market. We can continue to expand and grow with Cruisers’ model lineup in markets that are available.”

Mark Pedersen will stay on board as president of Cruisers and as a part of the MarineMax management team.

Cruisers recently acquired a 216,000-square-foot facility near its Oconto, Wis., headquarters.

Cruisers recently acquired a 216,000-square-foot facility near its Oconto, Wis., headquarters.

“The MarineMax team has a proven track record of great success in our industry,” Pedersen said. “With our loyal Cruisers owners and a strong dealer network, we will all greatly benefit from being a part of MarineMax.”

In late April, the yacht retailer posted a record second quarter, reporting an increase in revenue of more than $214 million — 70 percent — to $523.1 million, compared with the same quarter a year prior.

For the six-month period ending March 31, revenue is up 52 percent to $935 million, with a 33 percent increase in same-stores sales. 

This article was originally published in the June 2021 issue.

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. .