LAKE FOREST, Ill. – Boating industry giant Brunswick Corp. (NYSE: BC) has exercised its option to purchase the 51 percent of Portuguese rigid inflatable boat builder Supra-Industrial Textil, Lda. that it did not already own, it reported in a statement yesterday.
Terms of the transaction were not disclosed. Brunswick had purchased 49 percent of this manufacturer of the Valiant brand of rigid inflatable boats (RIBs) in 1999.
"Under the leadership of our Brunswick European Group, we have been executing a strategy to accelerate growth of our marine businesses in this important region," commented Brunswick Chairman and Chief Executive Officer George W. Buckley.
The acquisition will allow Brunswick to expand distribution of the boats beyond the company’s existing dealer network, he added.
"The RIB market is one of the most popular and fastest growing segments in boating," remarked Victoria J. Reich, president of the Brunswick European Group. "Valiant brings to Brunswick a strong management team that has delivered above-market growth, product innovation, manufacturing expertise and a commitment to quality."
Valiant RIBs are manufactured in Vila Nova de Cerveira, Portugal. The company has approximately 150 employees who produce approximately 3,500 RIBs annually ranging from 2.4 to 12 meters in length. It will become part of the Brunswick European Group.
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