Brothers buy Caravelle Powerboats
Caravelle Powerboats is under new ownership.
Eugene and Duane Sak of Florence, Ala., who own and operate business units that include elevators and metal fabrication, added Americus, Ga.-based Caravelle to their portfolio.
Terms of the deal were not disclosed. The new owners took control of the company Tuesday.
The Sak brothers, who are dedicated to the dealer-distribution model, will focus on smaller inboard 18-23-foot models, they said in a statement.
"While overpriced boats are struggling in the marketplace, Caravelle can happily deliver," Eugene Sak said about the decision to purchase the company.
Caravelle Powerboats has built small-craft sterndrive recreational boats since 1966.
