HarrisKayot president happy with Brunswick purchase
FORT WAYNE, Ind. – James Poiry, president of HarrisKayot, is pleased the boat manufacturer was sold for the second time in four months last week, saying the company’s purchase by Brunswick is a “fabulous opportunity,” the Fort Wayne Journal Gazette reported in a recent online story.
HarrisKayot Inc., said Friday that Brunswick Corp. had bought the company for an undisclosed sum. That sale came four months after Columbia, S.C.-based Bentley Industries purchased HarrisKayot from the Poiry family.
Poiry, who said he was not aware that Bentley Industries had approached Brunswick but later was “brought into the fold,” believes Brunswick will be a “better fit” for HarrisKayot, according to the newspaper.
“I think they have a commitment to not only to the marine industry but also to the autonomy of HarrisKayot,” Poiry told the Journal Gazette. “They truly understand the positioning of the HarrisKayot brands. This is a fabulous opportunity for Brunswick because they have acquired two gems (in terms of the Harris and Kayot brands), and this is a wonderful opportunity for HarrisKayot employees.”
Poiry said the company will not undergo any change in management or cuts in employees after the acquisition by Brunswick. Rather, it plans to add about five salaried employees over the next six months to replace some of the personnel cuts that occurred when Bentley Industries was the corporate parent.
HarrisKayot makes pontoon, sport and deck boats, and had about $35 million in revenue in 2004, according to the newspaper. Poiry said revenue would be flat in 2005 but projected “large increases” for 2006 through Brunswick’s larger distribution channel.
Speaking about Brunswick’s distribution capability, Poiry told the newspaper, “They will help to close the gap we have in some markets in the U.S.”
HarrisKayot will become part of the Brunswick Freshwater Group, which is part of the Brunswick Boat Group, based in Knoxville, Tenn.
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