MarineMax acquires US boat dealership
Recreational boat and yacht retailer MarineMax has acquired C&C Boat Works, a full-service boat dealer in Crosslake, Minnesota. The transaction expands MarineMax’s footprint in Minnesota to five locations.
Family-owned C&C Boat Works has operated across Minnesota’s Whitefish Chain of Lakes for over 60 years. The dealership features boats from Barletta, Cobalt, Harris, and Nautique, among others. With over 1,000 feet of lakeshore, C&C Boat Works has indoor and outdoor storage for more than 600 boats, in addition to service and storage operations with full-service marina amenities.
“We are excited to welcome C&C Boat Works to the MarineMax family,” says Brett McGill, MarineMax chief executive and president. “This is a business we have known for many years, one that shares our team-focused culture and dedication to service excellence. The addition of C&C Boat Works, which follows our 2021 acquisition of Nisswa Marine, enhances our ability to serve customers and realise further efficiencies across our operations in the region.
“With an annual economic impact of $6.9 billion, recreational boating is important to Minnesota and a prime passion for its residents. We are thrilled to expand our presence there.”
Brad Nelson, C&C Boat Works chief executive and owner, adds: “It’s the passion for the boating lifestyle, extensive resources, and established industry leadership that make MarineMax the ideal partner for us as we continue driving the expansion of our business in north central Minnesota. This combination offers tremendous benefits to both our customers and the C&C team. We are delighted to become part of the MarineMax family.”
MarineMax recently reported a record second-quarter gross margin of 35.2 per cent, an increase of 150 basis points from 33.7 per cent in Q2 2022. The firm says this increase is primarily driven by the acquisition of IGY Marinas and growth in higher-margin businesses.
