Today Brunswick Corp. announced that it will sell its Sea Ray brand with an aim towards improving the company’s “risk and margin profile” and its “commitment to drive shareholder value.” Planned to wrap up in the first half of 2018, Lazard's middle-market advisory group is acting as the transaction’s investment banker.
"Our marine strategy is focused on developing, manufacturing and distributing market-leading products to recreational and commercial marine consumers through our portfolio of engine, boat and parts and accessories businesses," Brunswick CEO Mark Schwabero stated. "This decision was made after careful consideration and reflects the evolving contribution that the Sea Ray brand has made to our marine portfolio.”
Brunswick’s other brands will stay the course and continue to play their roles in offering strong, balanced, and expanding elements in the marine industry.
"This more focused strategy will provide the best opportunities for growth and will complement our other marine offerings, including engines, parts and accessories. This shift will also improve our risk and margin profile and is consistent with our commitment to drive shareholder value,” Schwabero explained. "We believe that the Sea Ray business, through its leading brand and exciting product line, offers attractive value-creation opportunities to a new owner…Sea Ray is an iconic brand that is rich with history, with a reputation for craftsmanship, quality and styling. Sea Ray's manufacturing facilities are among the most advanced in the marine industry, with talented and dedicated workforces."
