Brunswick Corporation today announced that it has acquired Bell Recreational Products Group, a subsidiary of Bell Industries. Bell RPG is a distributor of parts and accessories (P&A) to the marine, recreational vehicle and powersports markets, serving primarily the Upper Midwest through locations in Eagan, Minn., Grand Rapids, Mich. and Milwaukee, Wis. Bell RPG had sales of approximately $40 million in 2013. Terms of the transaction were not disclosed.
"The addition of Bell RPG to our growing P&A portfolio will enhance our leadership in the U.S. marine market by further solidifying our footprint in the Upper Midwest," explained Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "Additionally, Bell RPG offers a number of complementary products, particularly those serving the RV and powersports industries, to add to our marine P&A portfolio. With this transaction we continue to increase our product depth and breadth as well as establish a presence in new product categories and industries, consistent with our strategy of using our cash to grow our core businesses."
Earlier this year, Brunswick completed the acquisition of Whale, a leading manufacturer of water movement and heating systems for the marine, recreational vehicle and a variety of niche markets. The addition of Whale and Bell RPG extends the prominence of the Brunswick marine P&A network, a leading provider of marine P&A products and distribution to the global marine industry. Through its Attwood and Whale marine parts, accessories and products; and its Land 'N' Sea, Kellogg Marine, and Diversified Marine parts and accessories distributors, Brunswick serves a wide spectrum of marine providers including boat and engine dealers, boat manufacturers and dealers, warehouse distributors, retailers and original equipment manufacturers.
"Parts and accessories has become an increasingly important part of our business at Brunswick," explained Brunswick President and Chief Operating Officer Mark D. Schwabero. "By incorporating these acquisitions into our current P&A operations, we believe we can enhance the growth of the P&A business; broaden the product portfolio; enable our entry into attractive adjacent markets, and expand our global presence in the P&A space."
Bell RPG will operate as part of Land 'N' Sea, the leading marine P&A distributor in North America, ultimately reporting to Mercury Marine's P&A operations, which are based in Fond du Lac, Wis. The acquisition is expected to have a minimal impact upon Brunswick's 2014 earnings.