Godfrey Marine sells Polar Kraft brand

Godfrey Marine has sold its Polar Kraft aluminum fishing boat line to private investors, the company announced Thursday.

Godfrey, which also manufactures Hurricane deck boats and Godfrey pontoon boats, is part of Highwater Marine, the company formed by Bennington Marine after it acquired Nautic Global Group in October.

The new owners are acquiring the brand and certain assets and liabilities of Polar Kraft, which is located in Syracuse, Ind.

The decision to sell the aluminum fishing line was made as part of Godfrey Marine’s strategy to refocus on its remaining brands, the company said. Terms of the sale were not disclosed.

Taking over leadership of the Polar Kraft brand will be Andy Cripe and Scott Tuttle, two  RV industry veterans.  Cripe, former president of Crossroads RV located in Topeka, Ind., is also part of the ownership group of Main Channel Marina located in Syracuse, Ind. Tuttle was one of the founders of Heartland Recreation Vehicles in Elkhart, Ind., as well as the founder of Livin’ Lite Recreational Vehicles in Wakarusa, Ind.

Bennington acquired the Nautic Global Group brands, which include Godfrey, Hurricane, Rinker, Sweetwater and others last year after an accelerated sales process that saw the private equity owners of NGG taking bids for the brands.

Highwater sold its pontoon furniture business, part of the NGG portfolio, to Lippert in January.