Brunswick Corp. said today that it has completed its acquisition of Lankhorst Taselaar, a leading marine parts and accessories distribution company based in the Netherlands and Germany.
Lankhorst Taselaar will be integrated into Mercury Marine to augment the engine maker's strong and growing parts and accessories business in Europe.
The transaction was originally announced in late July and was subject to usual and customary closing conditions, including relevant merger filings, which have now been completed. Terms of the transaction were not disclosed.
"Lankhorst Taselaar bolsters and solidifies the distribution arm of our marine P&A business in Europe," Brunswick Chairman and CEO Mark Schwabero said in a statement. "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.
"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 added. "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."