MarineMax increases presence in the Northeast
September 10, 2012
Filed under News
Expands in Connecticut, Rhode Island and Massachusetts
CLEARWATER, Fla.--(BUSINESS WIRE)--Sep. 10, 2012-- MarineMax Inc. (NYSE: HZO), the nation’s largest recreational boat and yacht retailer, today announced that it has acquired Bassett Marine LLC’s retail sales and operations in Westbrook, Connecticut and Warwick, Rhode Island and added western Massachusetts to its territory for its Sea Ray product line. This acquisition increases its store locations to 55.
The newly acquired geographic markets are contiguous with MarineMax’s New York and Connecticut markets. The Company believes additional operating and purchasing benefits can be derived over time by combining the management, marketing, and infrastructure of its stores in the region. The newly acquired stores will focus on selling premium cruising and fishing brands, such as Sea Ray, Boston Whaler, Meridian, Azimut and likely other offerings that are well-suited for the marketplace.
William H. McGill, Jr., Chairman, President, and Chief Executive Officer of MarineMax, stated, “The New England region has long been a target area of expansion for our company. It represents one of the wealthiest areas of the country and has a deep appreciation and affinity for boating. We believe this acquisition, with its great team and loyal customer following, combined with the integration of our other product offerings and operations, will help us expand and improve upon our ability to deliver the MarineMax caliber of service in this great boating area.”