BRP announced it will buy Triton Industries, the Lansing, Mich.-based builder of Manitou pontoons, for an undisclosed amount. Triton will be part of BRP’s new Marine Group.
The announcement surprised some by coming so close to BRP’s deal to buy fishing boat manufacturer Alumacraft.
“Manitou being a performance brand — it’s a great fit for BRP and Alumacraft,” Tracy Crocker, BRP Marine Group president and Evinrude senior vice president and general manager, told Trade Only Today.
“It’s really a performance pontoon; you’d never even use that term 10 years ago,” Crocker said. “They have their patented V-Toon technology, and that fit with BRP’s approach to technology.
The plan is to keep the Marine Group businesses independent and continue “business as usual,” Crocker said. “Scott VanWagenen will continue to run the business, with a go-to-market strategy.”
BRP will look to grow dealer networks for both boat brands and potentially cross-pollinate where it makes sense, Crocker said.
“The expansion of Manitou and Alumacraft in new markets is another growth opportunity we’ll look at,” Crocker said.
That expansion will continue internationally at some point, said Crocker.
“When we think of BRP Marine Group, we’re thinking of this as a global business, so we want to take advantage of the global footprint we already have and see if we can expand into other marketplaces,” Crocker said.
Manitou employs around 160 people and has a network of about 150 dealers in the United States and Canada, according to a statement.
The transaction remains subject to customary closing conditions and is expected to be completed in the third quarter of BRP’s fiscal year 2019.