Vision Marine today announced the sale of a Nautical Ventures dealership property on U.S. Highway 1 in North Palm Beach, Fla. The company said it intends to consolidate operations from the dealership into a neighboring water-sports showroom at Shore Court, enhancing operational efficiency while continuing to serve customers in Florida.
“We continue to streamline operations at Nautical Ventures,” Vision Marine co-founder and CEO Alexandre Mongeon said in a statement. “By combining our neighboring locations in North Palm Beach, we expect to realize annual savings of up to $0.8 million without materially impacting sales. Since acquiring Nautical Ventures, we have made significant operational improvements — reducing our floorplan balances, tightening inventory, lowering overhead, and expanding our product portfolio through new collaborations and distribution agreements, including Nimbus Boats, Hydrofin’s hydrofoil technology, Taiga’s electric personal watercraft, and Otter paddle products.”
Following repayment of the mortgage associated with the property, Vision Marine received approximately $2 million in net proceeds, which were applied to reduce outstanding floorplan financing. The transaction reflects Vision’s strategy to optimize its dealership footprint while unlocking real-estate equity and improving liquidity, the statement said.
