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Issue Date: 2/14/2006, Posted On: 2/14/2006
Brunswick enters marina business
Brunswick Corp. and MarineMax said today they have purchased property on Florida's west coast. Brunswick bought a public marina, while MarineMax purchased the large service yard at the same site.
Terms of the purchase price were not disclosed.
The marina and service yard, known as Great American Marina, is located off the Intracoastal Waterway on Boca Ciega Bay near St. Petersburg, Fla. Brunswick will own the 96-slip marina, while MarineMax will own and operate the service portion of the property.
This is Brunswick's first marina, though the company might purchase others in the future, Kathryn Chieger, vice president, corporate and investor relations of Brunswick, said in a phone interview.
Brunswick has not yet discussed any possible changes that might take place at the public marina, she said.
This strategy signals further potential partnerships with Brunswick's dealer network. Brunswick hopes to provide its customers with access to the water, and to provide an exceptional boating experience, according to chairman and CEO Dustan E. McCoy.
For MarineMax the acquisition complements its already strong presence in the area, said William J. McGill, Jr., chairman, president and CEO of MarineMax.
The companies say renovations are likely at the marina and service yard.
-Beth Rosenberg
b.rosenberg@tradeonlytoday.com
