Brunswick Corporation (NYSE: BC) has announced that it has completed the sale of the Hatteras and CABO brands of motoryachts and sportfishing convertibles to Navis HCY Acquisition, an affiliate of Versa Capital, which is based in Philadelphia.
Terms of the transaction were not disclosed.
'We are pleased to complete this process in a manner that will help maintain the legacy of the Hatteras and CABO brands,' said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy.
'Further, we are gratified that this transaction will result in Hatteras and CABO remaining in New Bern, while continuing to provide employment opportunities for the employee base.'
Brunswick purchased Hatteras Yachts in 2001 and CABO in 2006. Both are based in New Bern, N.C. Lazard Middle Market acted as sole investment banker for Brunswick Corporation on this transaction.
Headquartered in Lake Forest, Ill., Brunswick Corporation endeavors to instill 'Genuine Ingenuity'(TM) in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; MotorGuide trolling motors; Attwood marine parts and accessories; Land 'N' Sea, Kellogg Marine, and Diversified Marine parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris FloteBote, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray, Uttern and Valiant boats; Life Fitness and Hammer Strength fitness equipment; Brunswick bowling centers, equipment and consumer products; Brunswick billiards tables and table tennis.
For more information, visit www.brunswick.com
by Brunswick Corporation
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7:38 PM Tue 6 Aug 2013GMT
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