Genmar Yacht President: “It won’t be a liquidation out here”

PULASKI, Wis. — The president of Wisconsin-based Genmar Yacht Group told the Green Bay Press Gazette he’s confident that the business will find a buyer and remain in Pulaski, according to an article on the Press Gazette‘s Web site.

“It won’t be a liquidation out here; it will be a sale,” Bob VanGrunsven, president of Genmar Yacht Group, told the paper. “We will have a new owner. There’s value here and there are groups out there that believe there is a value they’d like to obtain.”

A $55 million bid by California-based Platinum Equity for some of Genmar’s assets does not include the Pulaski operation or several other Genmar divisions.

“It’s going to be mid-January before we get the whole thing figured out,” VanGrunsven told the paper. “It’s been a rollercoaster, but we’re getting to the end of this. In January we will be able to get our feet back on the ground, and it will take some weeks to get a restart to the operation going, but I’m confident we will do that.”

To read the complete report, click here.

Leave a Reply

Your email address will not be published. Required fields are marked *