Pontoon builder Premier Marine announced the acquisition of Weeres Industries and Palm Beach Marinecraft.
Premier co-owners Bob Menne and Gene Hallberg signed a letter of intent July 1 to purchase both companies. Terms of the transaction were not disclosed. Weeres and Palm Beach will retain their names, but will be wholly owned subsidiaries of Premier Marine.
“The purchase of Weeres and Palm Beach will allow Premier to offer a broader selection of boats to dealers and further increase our share in the pontoon market,” Menne said in a statement.
Weeres Industries builds pontoon boats, water bikes and swim rafts. Palm Beach Marinecraft builds pontoons, swimming rafts and water bikes.
The Weeres and Palm Beach brands will continue to run as independent businesses and will be operated out of their facility in New Ulm, Minn. The Premier and Leisure brands will continue to be operated independently out of the existing headquarters in Wyoming, Minn.