MarineMax takes on MasterCraft’s Aviara dayboats
After its successful Q3, with revenue up five per cent (year-over-year), MarineMax is entering into an asset exchange agreement with MasterCraft Boat Holdings (MasterCraft). MarineMax’s Cruisers Yachts subsidiary will assume the rights to MasterCraft’s Aviara brand of luxury dayboats which are currently built in Merritt Island, Florida. The agreement does not include any Aviara production facilities or personnel – those are to remain with MasterCraft.
“MarineMax has been the primary retail distributor for the Aviara portfolio since the brand was launched in 2019, so we were a logical choice to assume control of the brand when this unique opportunity became available,” said Brett McGill, MarineMax’s CEO and president.
McGill has previously spoken about his company’s value-creation strategy, which focuses on expanding high-margin, less cyclical, revenue streams but has stressed that macroeconomic softness weighs on retail boat margins industry-wide.
In addition to the Aviara brand and related intellectual property, MarineMax is receiving certain assets, including moulds, tooling, and inventory. MarineMax will also administer the existing manufacturer warranties and market the brand.
“MasterCraft has done an outstanding job building Aviara into a highly regarded luxury dayboat brand. Today’s announcement helps us ensure that customers who have purchased an Aviara boat will continue to receive the industry-leading level of service and after-market support that has defined the MarineMax customer experience for the past 26 years. As the recreational marine market recovers, we will evaluate the production plan for Aviara based on consumer demand, our existing manufacturing capacity, and alignment with our overall strategy,” McGill continues.
The transaction remains subject to customary closing conditions and is expected to be completed within the next 90 days. Continue exploring the latest news about MarineMax.
