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Jacobs took ‘serious look’ at Hatteras and Cabo - Trade Only Today

Jacobs took ‘serious look’ at Hatteras and Cabo

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Irwin Jacobs laid to rest any rumors that he was looking to buy Hatteras and Cabo from Brunswick Corp.

“The only thing I will acknowledge is that we did take a serious look at it,” Jacobs told Trade Only Today.

Jacobs told Trade Only in February that he was not in negotiations to buy the two brands that Brunswick Boat Group put up for sale in January. “If you’d have called me two weeks earlier, I’d have said, ‘No comment,’ ” Jacobs said last week.

Former Hatteras CEO Bill Naumann told the New Bern (N.C.) Sun Journal on March 21 that he had led a group that included Jacobs in an unsuccessful offer to purchase the brands.

“I thought we made a fair offer, but unfortunately it was not accepted and right now I am just a spectator in the process,” Naumann told the Sun Journal. “They have been very closed-mouth about it all.”

In early March, Brunswick Boat Group president Andy Graves told Trade Only that there had been “significant interest” in the companies, but that he didn’t know when a sale might be finalized.

“We’re in the process now of taking the groups of interested parties and narrowing it down to a select few,” Graves said. “You have a number of people who want to try to get a first shot or get ahead of the line … so there’s some of that going on. Suffice it to say there is a formal process, it’s under way and there are a number of interested parties. And that’s why I think you have a lot of noise around this.”

— Reagan Haynes

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