Brunswick Corp. said it entered into an agreement to buy Lankhorst Taselaar, a parts and accessories distributor based in the Netherlands and Germany.
Terms of the transaction, which is expected to close in the third quarter, were not disclosed.
When the transaction is completed, Lankhorst Taselaar will be integrated into Mercury Marine to augment the engine maker's growing parts and accessories business in Europe.
With 2016 revenue of about $25 million, Lankhorst Taselaar sells an extensive array of parts and components and offers next-day delivery to nearly all of its 3,000 customers, many of which are new to Mercury Marine's network in the region, Brunswick said.
“Lankhorst Taselaar will help Mercury to advance its presence and service throughout northern Europe, particularly in Belgium, Luxembourg, the Netherlands and Germany,” Mercury Marine president John Pfeifer said in a statement.
"It allows us to more quickly accomplish our goals of increasing share in this important and growing market, and the unified distribution network should greatly accelerate the future growth of the combined operations, with a broader product line and an expanded distribution network."
Lankhorst Taselaar's workforce consists of about 50 people, and the company will continue its planned move into a new facility in Heerenveen, the Netherlands, by the end of 2017.
The Lankhorst Taselaar acquisition is expected to have minimal impact on Brunswick's 2017 results, Brunswick chairman and CEO Mark Schwabero said.
Brunswick said the impact of this type of transaction has already been considered in the company’s 2018 plan, which was originally presented to the financial community in November 2015.
"We continue to seek opportunities to strategically grow our marine and fitness operations throughout the world," Schwabero said. “Lankhorst Taselaar will bolster and solidify the distribution arm of our marine P&A business in Europe. As we have done in recent years with BLA in Australia and Payne's Marine in Canada, Lankhorst Taselaar expands our reach and customer responsiveness in the global marine marketplace and offers us a larger footprint upon which to build in Europe.
"Pursuing the Lankhorst Taselaar transaction is further evidence that Brunswick is executing its strategy to add operations, particularly those in fitness and marine P&A," Schwabero said. "Including this and other completed acquisitions, we continue to target $350 million of additional revenue from P&A acquisitions by 2018, which was originally shared with the financial community in 2015."