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.
“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.