Key Largo Sportfishing Boats announced Thursday that it is under new ownership — Sak Marine.
Sak, of Florence, Ala., owns Caravelle Powerboats, Interceptor Performance Boats and SeaHawk Sportfishing Boats. Terms of the deal were not released.
“We appreciate that overpriced boats are struggling in the marketplace, and like our Caravelle boat model line Key Largo can now happily deliver a great price,” Eugene Sak said in a statement about why his company chose to make the acquisition.
New ownership went into effect June 21, and the Sak brothers said they wasted no time bringing the brand, which had limited production since March, back to production. Sak Marine expects Key Largo to begin shipments of 2012 boats as soon as Aug. 15.