Brunswick sells Triton brand to Platinum Equity
By IBI Magazine
Brunswick Corp just announced that it had sold Triton Boats to Fishing Holdings LLC, an affiliate of Platinum Equity. Platinum Equity bought six former Genmar brands in the Genmar Bankruptcy auction in February. Terms of the Triton deal were not disclosed. Brunswick said restructuring charges would be between US$18m and US$20m. Brunswick CEO Dustan McCoy said in a statement that the "strategic decision" was "required by business realities". McCoy added that Brunswick's strategy is to "further refine our product portfolio and best focus our resources on those brands and marine segments that we believe are core to our success going forward". Production of Triton fibreglass manufacturing will be transferred from Ashland City, Tennessee to Flippin, Arkansas. Platinum Equity builds the Ranger, Stratos and Javelin brands in Flippin. Brunswick said it would retain rights to intellectual property regarding the Triton aluminium boat line, and will continue to sell them under license as part of Brunswick's aluminium portfolio. Those boats will continue to be built at Brunswick Boat Group's (BBG) facility in Lebanon, Missouri. Production of Lund fibreglass manufacturing will be moved from Ashland City to Brunswick Boat Group's BBG facility in Vonore, Tennessee. The company said Trophy fibreglass fishing boats would be built in Ashland City for the rest of the year. Brunswick said it was evaluating "strategic alternatives" for the Trophy brand. The statement did not note whether the company intends to shut the Ashland City facility down.
(29 July 2010)
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