Brunswick and GE extend their joint venture
LAKE FOREST, Ill. – Brunswick Corp. (NYSE: BC) and GE Capital Solutions (NYSE: GE) have signed a five-year renewal of their joint venture, Brunswick Acceptance Co. (BAC), they reported in a recent statement.
The joint venture was formed in 2002, and began operations in 2003 with the goal of providing a stable, long-term source of wholesale floor plan financing for Brunswick boat dealers, according to the company.
BAC has operations in Knoxville, Tenn., and Fond du Lac, Wis., and has become the largest floor plan finance provider for Brunswick boat brands and Mercury Marine engines in the United States.
“We have been extremely pleased with the results and performance of this joint venture,” said William Metzger, Brunswick vice president and treasurer.
“Our relationship with our dealers goes beyond providing just great boats and engines. Brunswick has long believed that as our dealers prosper, so will we,” explained Dustan E. McCoy, Brunswick chairman and chief executive officer. “BAC is an important part of our commitment to serving our dealers, just one of several important tools and support we offer them.”
“For over 30 years, GE has been dedicated to serving the marine industry and is committed to our customers,” echoed Bruce Van Wagoner, president of GE Capital Solutions’ Marine Group. “Through BAC we will continue to provide attractive financial solutions to Brunswick marine dealers. Further, GE is a proud member and supporter of several marine industry associations and continues to provide significant leadership, resources and capital to help grow the industry and our partners.”
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