Winnebago Industries, Inc. has acquired Chris-Craft from Stellican Ltd., which has owned Chris-Craft since 2001. Terms of the transaction were not disclosed.
“Chris-Craft is an iconic, premium brand that shares many similarities with our own heritage Winnebago brand, including a commitment to providing customers with the highest quality products and services,” said Winnebago Industries President and Chief Executive Officer Michael Happe. “The company’s strong brand, high-quality product line and premium position in the marine market make Chris-Craft an attractive addition to our portfolio."
Chris-Craft marks Winnebago’s first entry into the marine market. Happe added the marine market has significant runway for growth, with a large and increasing population of current and new boaters who enjoy extraordinary experiences on the water.
The acquisition aligns Winnebago Industries, Inc. within the outdoor lifestyle market and gives the company a strong base on which to consider building an additional revenue platform over time, Happe added.
"We believe there will be synergies realized across our value chain and that the Chris-Craft business has material expansion opportunities available," Happe said. "Additionally, we see significant intersection between the RV and marine lifestyles and view marine as a natural adjacency to our existing outdoor lifestyle portfolio, with similar customer demographics and significant ownership crossover. We look forward to working with the talented Chris-Craft team and to welcoming them to the Winnebago family.”
Chris-Craft Chairman and Stellican Ltd. Founding Partner Stephen Julius said Winnebago is a natural fit for Chris-Craft’s premium brand, with a similarly iconic brand, complementary cultures, and a shared dedication to design, craftsmanship, quality, and customer service.
“I am delighted that Chris-Craft has found an ideal partner in Winnebago Industries,” Julius said.
According to a news release from Winnebago Industries, Inc., President Stephen Hesse will continue to lead the Chris-Craft brand. Winnebago also expects to maintain Chris-Craft's Sarasota, Fla. headquarters.
“We look forward to further developing our storied brand while leveraging Winnebago’s capital and resources to accelerate our growth and continue delivering an exceptional product experience for our dealers and customers,” Heese said.