OneWater sells dealerships in ‘non-core’ market
OneWater Marine Inc. announced that it has completed the sale of two dealerships located near Lake Cumberland in Somerset Kentucky to Troxtell Marine. Lookout Marine and Kentucky Marine had combined annual sales of $6 million.
“We continue to further enhance our geographic footprint in some of the largest boating markets in the country. While these dealerships have performed well, they are not aligned with our long-term strategy and believe they would be better positioned with Troxtell Marine, a premier marine business serving the Somerset, Kentucky area,” said Austin Singleton, Chief Executive Officer for OneWater.
Troxtell Marine is a premier marine business serving the Somerset, Kentucky area, carrying a variety of outboard motors, pontoons, and boats lines from Mercury, Starcraft, and Yamaha. It is anticipated that the combined businesses will operate under the Troxtell Marine and Lookout Marine brand umbrella.
“We have built a reputation as one of the most premium marine sales and service providers in the Somerset, Kentucky marketplace. We look forward to caring for existing & prospective customers both during and after the sale, all while further expanding our footprint in the industry,” said Jimbob Troxtell, Owner & General Manager of Troxtell Marine.
