NEW YORK — Hustler Powerboats has been in negotiations to purchase former competitor Fountain Powerboats and all its assets since last week, according to a release from Hustler’s parent Global Marine Power.
Fountain filed for Chapter 11 protection in August, and its assets will be up for auction Oct. 5 in Washington, N.C.
Hustler said if the purchase goes through, it would move its operations to North Carolina and re-build the Fountain and Baja Line to full capacity over the next four years. The company said it does not want to see Fountain die off because of its role in performance boat history.
“We are dedicated to re-strengthening both Fountain and Baja, keeping the same look and feel with improved quality and workmanship,” Hustler said in the release. “Over these last couple years, Hustler has been blessed with sales and is running strong and would like to give back to the boating community by saving these companies from being auctioned off piece by piece.”
A post on Hustler’s Facebook page last week indicated that the company has been to Fountain and toured the North Carolina facility.
“We just got home from the Fountain tour. The plant was amazing and we want to Thank Reggie and all his employees for making us feel right at home. Good People! Left with a very positive attitude.”