The chairman and CEO of the world’s largest retailer of Sea Ray boats was quick to react to news on Monday that Brunswick Corp has scrapped the sale of the iconic boat brand.

“It is great to see… Brunswick recognised the importance of one of the most esteemed brands in our industry,” said MarineMax’s William McGill Jr. “We are disappointed by the decision to discontinue sport yachts and yachts, but we are excited for the future of the Sea Ray and the focus on sport boats and sport cruisers.”

Historically, MarineMax is responsible for over 50% of Sea Ray’s worldwide sales.

Brunswick will wind down production of Sea Ray sport yacht models above 40ft in the third quarter, built at two Florida facilities and eliminate as many as 825 positions.

The largest recreational boat and yacht retailer in the US, MarineMax has diversified over time by adding competing products and brands, according to the release. “The sales of Sea Ray sport yachts and yachts as a percentage of our business declined to less than 10%,” McGill Jr said.