LAKE FOREST, Ill. – Marine industry giant Brunswick Corp.’s (NYSE: BC) purchase of certain assets of Olympic Boat Centers has been approved by the court as part of Olympic’s Chapter 11 federal bankruptcy proceedings, Brunswick reported in a statement earlier this week.
Brunswick said it has no intention of moving into retail, explaining that its participation in the proceedings will facilitate the transfer of Olympic inventory to new distribution and thus will be helpful in continuing to protect its boat brands and maintain its strong brand presence in the Pacific Northwest and California.
Brunswick will pay about $2 million for certain retail assets of Olympic, including the trade name, goodwill and other intangibles. In addition, Brunswick has arranged to transfer certain Olympic boat inventory to a new dealer network in the region.
These dealers, and the areas they will serve, and the brands they will represent, include the following:
“We have a very strong brand presence on the West Coast, which is why there are many highly qualified dealers in this territory who desire to represent our brands,” said Andrew Graves, president of US Marine, which includes the Bayliner, Maxum, Meridian and Trophy brands.
- For more of the latest news, click here.