LAKE FOREST, Ill., July 9 /PRNewswire/ -- Brunswick Corporation (NYSE:
BC) announced today it has completed its previously announced acquisition of
Sealine International for total consideration of approximately $68 million.
Total consideration consists of approximately $37 million in cash, the
assumption of debt and the issuance of notes to certain sellers.
Headquartered in Kidderminster, England, Sealine is a leading
manufacturer of luxury sports cruisers and motoryachts from 24 to 51 feet in length,
which are sold throughout the world. Recognized for superior quality and
innovative features, Sealine boats have won the coveted British Nautical Motorboat of
the Year award twice in the last three years.
"With its distinctive styling and quality, Sealine is a premium brand
and a great fit for Brunswick, as we begin to take steps to fulfill our strategy
of building a truly global boat company," said Brunswick Chairman and Chief
Executive Officer George W. Buckley. "Sealine provides us with a platform
for growth in international markets with products featuring the styling and
amenities that meet the needs and tastes of European consumers."
"We anticipate that Sealine will remain a strong financial performer,
and now as part of the world's largest pleasure boat company, Sealine will have
even more resources to accelerate its growth and expand its reputation for
blending traditional craftsmanship with engineering excellence," Buckley
added. "Sealine and Brunswick share a passion for boating and innovation
and we welcome the opportunity to exchange ideas, technologies and expertise
among all of the other Brunswick boat companies."
Sealine will become part of the Brunswick Boat Group and will continue
to be based in Kidderminster. Gerard Wainwright will remain chairman of
Sealine, reporting to Dustan E. McCoy, president of the Brunswick Boat Group.
Headquartered in Lake Forest, Illinois (near Chicago), Brunswick
Corporation is a $3.8 billion marketer and manufacturer of leading consumer
brands including Mercury and Mariner outboard engines; Mercury MerCruiser
sterndrives and inboard engines; Sea Ray, Bayliner and Maxum pleasure boats;
Sealine luxury sports cruisers and motoryachts; Baja high-performance boats;
Boston Whaler and Trophy offshore fishing boats; Princecraft deck and
pontoon boats; Life Fitness, Hammer Strength and ParaBody fitness equipment;
Brunswick bowling centers, equipment and consumer products; and Brunswick billiards
tables.
