Brothers buy Caravelle Powerboats

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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.

Click here for the full release.

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