MarineMax acquires Russo Marine

MarineMax has made a significant expansion into the Northeast with the acquisition of one of the region’s largest dealers, Russo Marine.

Russo has been a member of the Boating Industry Top 100 since the program’s inception, ranking No. 14 on the 2015 list. MarineMax is a two-time Top 100 Dealer of the Year and member of the Top 100 Hall of Fame.

Now in its third generation, Russo Marine operates from four sales and service facilities serving Massachusetts and Rhode Island. The Russo family will continue to run the day-to-day operations of the business.

“This is an opportunity for the Russo family to grow our business in a dynamic and dramatic way, with greater market territory, access to more brands and the tremendous array of services and resources that MarineMax brings to the marketplace,” Russo Marine President & CEO Larry Russo Sr. told Boating Industry. “This is all good news for the Russo family. We’re energized, we’re excited. This is a step forward in the evolution of a marine dealership.”

MarineMax and Russo have many of the same philosophies, which made the partnership attractive, Russo said.

“We seek operational excellence in our business, so does MarineMax,” he said. “We’re both customer-centric companies. The fit is like hand-in-glove. It’s going to be a pleasure to do this.”

Bill McGill, MarineMax chairman, president, and CEO, echoed that sentiment.

“Larry Russo, Sr. is well respected in our industry and we are very proud to welcome him, Larry Jr., Alex, Bee and the entire Russo Marine team into the MarineMax family,” he said in a statement. “With Russo’s similar commitment to customer service, we firmly believe that together we will be even stronger in providing the very best boat ownership experience for our customers in this exceptional boating environment. With Russo Marine now joining the MarineMax team, we gain a valuable presence in Boston and coastal New England. With the addition of Russo Marine, we further strengthen our position to serve the many boaters that migrate along the Atlantic seaboard from the Northeast to Florida.”