The National Marine Manufacturers Association announced it reached an agreement to sell the Toronto International Boat Show to Canadian Boat Shows Inc.
The sale is expected to be finalized March 31. Terms of the sale were not released.
On the heels of its recent acquisition of the New England Boat Show in January, the sale of the Toronto International Boat Show comes as the NMMA continues to reposition its boat show portfolio, according to the association.
The 52-year-old show has been owned by the NMMA since 1992.
"Selling the Toronto show is a strategic decision that allows us to expand our reach in other markets and better position NMMA to best serve the industry for the long term," NMMA president Thom Dammrich said in a statement. "There are a lot of opportunities for NMMA and the recreational boating industry as the economy rebounds and we make changes to better align with shifts in the economic climate."
Canadian Boat Shows Inc. will be led by Linda Waddell, NMMA vice president of Northern shows. Waddell will remain with the NMMA until the transaction is finalized. The majority of the NMMA's Canadian boat show staff will join Waddell at Canadian Boat Shows, which was formed for the purpose of the acquisition.
The NMMA now owns 16 boat shows.