Brunswick Corp says it plans to acquire Lankhorst Taselaar, a marine parts and accessories distributor based in the Netherlands and Germany. Terms were not disclosed.
A Brunswick statement says Lankhorst Taselaar will be integrated into Mercury Marine to supplement its P&A business in Europe.
Lankhorst Taselaar has annual revenues of about US$25m and a workforce of about 50 people. It has nearly 3,000 customers and many are new to Mercury Marine's network in the region.
"Lankhorst Taselaar will help Mercury to advance its presence and service throughout Northern Europe, particularly in Belgium, Luxembourg, the Netherlands and Germany," says John Pfeifer, president of Mercury Marine, in the statement. "It allows us to more quickly accomplish our goals of increasing share in this important and growing market, and the unified distribution network should greatly accelerate the future growth of the combined operations, with a broader product line and an expanded distribution network."
Lankhorst Taselaar will move into a new state-of-the-art facility in Heerenveen, the Netherlands, by the end of 2017.
Brunswick chairman Mark Schwabero said the acquisition would have minimal impact on Brunswick’s 2017 results. "We continue to seek opportunities to strategically grow our marine and fitness operations throughout the world," said Schwabero in the statement. "As we have done in recent years with BLA in Australia and Payne's Marine in Canada, Lankhorst Taselaar expands our reach and customer responsiveness in the global marine marketplace and offers us a larger footprint upon which to build in Europe.”
Schwabero said that Brunswick continues to target US$350m of additional revenues from acquisitions by 2018. "That was originally shared with the financial community in 2015,” said Schwabero.