Brunswick Corporation (NYSE: BC) today announced an extension of its joint venture with Commercial Distribution Finance (GECDF), a division of GE Capital, through 2019. The joint venture, Brunswick Acceptance Company (BAC), was formed in 2002 and the current agreement was to expire at the end of 2016.
"This successful partnership has provided a stable and competitive source of wholesale floor plan financing along with high-quality service to Brunswick marine dealers for more than a decade," explained Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "Through this extension, we are looking to ensure continued stability through 2019, while our partner, GECDF, transitions to new ownership. BAC will continue to be an important part of our offering to dealers, and enhances the competitiveness of our brands."
"We have built an even stronger relationship with Brunswick dealers as a result of the joint venture over the last 13 years, and we are delighted to continue to serve them," said Bruce Van Wagoner, president of GECDF's marine business. "We will continue our successful collaboration with Brunswick to ensure the growth and health of the dealer network."
The programs provided by BAC are exclusive to dealers of Brunswick boat brands and Mercury Marine engines in the United States. Currently more than 600 dealers participate in the programs, often with multiple Brunswick brands in their dealerships.