MasterCraft has acquired NauticStar, a US manufacturer of bay boats, deck boats and offshore centre console boats for US$79.8m. Based in Amory, Mississippi, NauticStar currently builds its different lines from a 200,000sq ft manufacturing facility. It had sales of about US$63.7 last year and expects 2017 sales to reach US$80m.
“The company’s outboard bay, deck and offshore center console boats provide MasterCraft with additional product diversity,” says Terry McNew, MasterCraft chief executive, in a statement. “They also provide MasterCraft a presence in saltwater fishing as well as outboard propulsion, two of the fastest-growing segments in the broader boating industry.”
McNew said that NauticStar’s current demand from dealers currently exceeds its supply. The brand currently has 70 dealers in the US. McNew expects NauticStar sales to increase as the company becomes integrated with MasterCraft’s domestic and international dealer networks. “We look forward to leveraging our industry-leading strengths in operational excellence and financial management to further improve NauticStar’s output, quality and margin,” said McNew.
NauticStar will maintain its current headquarters and manufacturing facility. The transaction is expected to be accretive to MasterCraft’s earnings per share in fiscal 2018.