MarineMax last week announced that it signed a definitive agreement to acquire full-service marina and storage facility Shelter Bay Marine in Marathon, Fla. The facility has the capacity to store 175 boats.
“The acquisition of Shelter Bay aligns seamlessly with our strategy of acquiring higher-margin businesses that complement other parts of our business and create valuable synergies,” MarineMax CEO and president Brett McGill said in a statement. “Geographically, Shelter Bay strengthens our presence in the Middle Keys, building on our growing Ocean Reef and Islamorada locations.
“The Shelter Bay team has a strong reputation for service excellence that blends well with our culture,” he added. “In addition, the marina provides another outlet for our premium brands, enhancing the customer experience through greater convenience and expanded access to our offerings.”
The acquisition is expected to close by the end of June and be accretive in the first full year of operations.
