Ferretti S.p.A., parent company of the Ferretti group, completed the acquisition of the assets, brands and ongoing operations of Fort Lauderdale-based Allied Richard Bertram Marine Group.
The purchase is valued at about $50 million, the company said in a statement.
The newly named Allied Marine Group will continue to specialize in the post-sales, services and the marketing of new and previously owned yachts, as well as providing brokerage services.
“We are daring to challenge the status quo in the marine industry,” said Vincenzo Cannatelli, Ferretti SpA CEO, in a statement. “The combination of two market leaders is certain to achieve important results, especially due to the common desire of the two companies to provide clients with the highest standard of service. Thanks to this acquisition, Ferretti is taking another step forward in a strategically important market.”
Allied Marine Group and Ferretti, S.p.A. will be in tandem at the Fort Lauderdale International Boat Show in October, with its full launch expected to be unveiled at the Miami International Yacht & Brokerage Show in 2009.