MarineMax yesterday announced that it entered into an asset exchange with MasterCraft Boat Holdings Inc., under which MarineMax’s Cruisers Yachts subsidiary will assume the rights to the Aviara brand of day boats.
In addition to the Aviara brand and related intellectual property, MarineMax is receiving assets including molds, tooling and inventory. MarineMax will assume the existing manufacturer warranties. The agreement doesn’t include Aviara production facilities or personnel.
“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,” Brett McGill, MarineMax chief executive officer and president, said in a statement. “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 aftermarket support that has defined the MarineMax customer experience for the past 26 years.”
McGill said that as the recreational boating industry recovers from current economic conditions, MarineMax “will evaluate the production plan for Aviara based on consumer demand, our existing manufacturing capacity, and alignment with our overall strategy.”
The acquisition remains subject to customary closing conditions and is expected to be completed within the next 90 days.
