Online listing service Boats Group, which includes such properties as Boat Trader, YachtWorld and Boats.com, is being sued in federal court in the Southern District of Florida for alleged violations of the Sherman Act and the Florida Antitrust Act of 1980, and for unfair methods of competition under the Florida Deceptive and Unfair Trade Practices Act.
Boats Group is owned by private equity company Permira.
The plaintiff, Brill Maritime Inc. (doing business as Export Yacht Sales) is seeking injunctive relief and damages. The filing alleges that Boats Group:
“Has willfully acquired, maintained and expanded monopoly power in this market by engaging in exclusionary and anticompetitive conduct, including the serial acquisitions of its main competitors, unilateral price increases, restrictive contractual terms, and practices that hinder entry and expansion by rival platforms. As a result, sellers face supracompetitive outreach costs, competitors are foreclosed from competing on the merits, and consumers encounter reduced choice and higher prices in the recreational boating marketplace.”
This is a developing story. Additional reporting will follow in today’s Trade Only Today e-newsletter.
