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ANNAPOLIS, Md. – American Global Yacht Group has entered into an agreement to acquire Southport Boat Works, which is scheduled to be consummated within the next few weeks, AGYG reported in a release today.
As part of the transaction, AGYG will continue to produce Southport fiberglass sport fishing boats in their current facility. Southport builds sport fishing boats in 26- and 28-foot models at its 52,000 square foot facility in Leland, N.C. The company distributes its products through boat dealerships in the United States, Puerto Rico, Australia and Europe.
“We are pleased to acquire what we consider to be a great line of fishing boats, and look forward to working with the talented Southport work force,” said Jerry Cureton, AGYG principal. “Southport is a strategic acquisition for us which will compliment our other brands. We intend to grow the company through our combined distribution systems and plan to add new models to the line in the near future.”
“Merging Southport into AGYG will allow us to expand the Southport brand with a strong building and marketing partner,” said Frank Longino, managing partner of Southport. “In addition, this relationship assures continued employment opportunities for our workers.”
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