Brunswick Corp. and GE Capital's Commercial Distribution Finance division extended their joint venture, Brunswick Acceptance Co., through 2016.
The joint venture, referred to as BAC, was formed in 2002 and began operations in 2003 and is the largest floorplan finance provider for Brunswick boat brands and Mercury Marine engines in the United States, as well as one of the largest providers of wholesale financing programs and service to the marine industry.
"This extension is a reflection of the commitment that the partners have to the U.S. marine industry, as well as our confidence in BAC's demonstrated ability to provide market-leading products and services to the dealer body," Brunswick chairman and CEO Dustan McCoy said in a statement. "We are committed to offering our dealers all the tools they need, including a stable and affordable source of financing, along with our high-quality boats and engines to ensure they can provide America's boaters with a fully satisfying ownership experience.”
“We are excited about our extension with Brunswick, and we will continue to provide their dealers with flexible financing and top-notch customer service," Commercial Distribution Finance marine group president Bruce Van Wagoner said in a statement. "BAC dealers will also continue to have access to CDF's industry-leading online tools and the resources of GE to help them manage and grow their business."
In a related development in Canada, Commercial Distribution Finance renewed its agreement to be the strategic inventory finance provider for Brunswick boat dealers through 2016.