FORLI, Italy and FORT LAUDERDALE, Fla. – Ferretti S.p.A., parent company of the Ferretti group, has acquired the assets, brands and ongoing operations of Allied Richard Bertram Marine Group – one of the largest yacht distributors and service providers in the United States, Ferretti S.p.A. reported in a release today.
The move, valued at nearly $50 million, will give Ferretti – which designs, builds and sells luxury yachts – a powerful distribution platform to reach and service its customers throughout the U.S., the company said.
The newly named Allied Marine Group will continue to specialize in the post sales, services and the marketing of both new and previously owned yachts, as well as providing brokerage services.
“We are daring to challenge the status quo in the marine industry,” said Vincenzo Cannatelli, Ferretti S.p.A. CEO. “The combination of two market leaders is certain to achieve important results, especially due to the common desire of the two companies to provide clients with the highest standard of service. Thanks to this acquisition, Ferretti is taking another step forward in a strategically important market.”
The new organization comes into effect immediately and the relationship with Allied and its current customers will not change, according to the release.
Allied Marine Group and Ferretti, S.p.A. will work in tandem at the Ft. Lauderdale International Boat Show in October, with their full launch expected to be unveiled at the Miami International Yacht & Brokerage Show in 2009, the company said.
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