BRP Acquires Alumacraft and Creates a New Marine Group
VALCOURT, Quebec, June 28, 2018 (GLOBE NEWSWIRE) -- BRP (TSX:DOO) announced today the creation of the Marine Group with the acquisition of Alumacraft Boat, the premier private North American manufacturer of aluminum fishing boats, based in St. Peter, MN.
By solidifying its position in the marine market through a boat company acquisition to complement its outboard engine portfolio, BRP will aim to eventually transform the marine business worldwide with its world-renowned technical expertise, design prowess and ingenuity. Tracy Crocker, Senior Vice-President and General Manager of Evinrude Outboard Motors since 2017, is being appointed President of the Group, effective immediately.
This acquisition will allow BRP to leverage the strength and reputation of two iconic marine industry players with Alumacraft’s extensive boating know-how bringing exceptional boating experiences to its customers since 1946 and Evinrude’s superior value and quality for over 110 years. Alumacraft is known as one of the first companies to build aluminum boats for fishing and recreation with a truly innovative design for the times, and the introduction of the revolutionary 2Xb hull. It is now employing over 250 people in two U.S. locations and has a network of 275+ dealers around the globe. With BRP’s state-of-the-art manufacturing know-how, aluminum expertise and innovation track record, the addition of Alumacraft will enable us to, over time, continue to transform the customer experience, drive opportunities for our dealers and provide overall efficiencies to the new BRP Marine Group.
“This acquisition is a natural first step for our newly formed Marine Group,” said José Boisjoli, BRP President and CEO. “In the short term, we plan to focus on network optimization to leverage the strengths of both product lines and gradually reinforce our presence in the industry. Along with our recognized approach to innovation and design expertise, we hope to eventually transform this industry and do for the marine business what we have done for the powersports business.”
“We are pleased to welcome Alumacraft and its team to the BRP family and together we will build our Marine Group to support our goal to become a leading marine company,” said Tracy Crocker. “As always, our key objective is to provide high quality, innovative boats and engines that help families create unforgettable memories on the water. With the great people and thinking at Evinrude and at Alumacraft, we are definitely set up for success.”
For additional information on Alumacraft, visit alumacraft.com.
About BRP
We are a global leader in the world of powersports vehicles and propulsion systems built on over 75 years of ingenuity and intensive consumer focus. Our portfolio of industry-leading and distinctive products includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, Alumacraft boats, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. We support our lines of product with a dedicated parts, accessories and clothing business to fully enhance your riding experience. With annual sales of CA$4.5 billion from over 100 countries, our global workforce is made up of around 10,000 driven, resourceful people.
Ski-Doo, Lynx, Sea-Doo, Evinrude, Rotax, Can-Am, Alumacraft, and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners.
CAUTION CONCERNING FORWARD-LOOKING STATEMENTS
Certain statements included in this release, including, but not limited to, statements relating to the Marine Group of BRP, and other statements that are not historical facts, may be “forward-looking statements” within the meaning of Canadian securities laws. Forward-looking statements are typically identified by the use of terminology such as “may”, “will”, “would”, “could”, “expects”, “plans”, “intends”, “anticipates” or “believes” or the negative or other variations of these words or other comparable words or phrases. Forward-looking statements, by their nature, are based on assumptions, and are subject to important risks and uncertainties. Forwardlooking statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the business. Actual results may differ materially from results indicated in forward-looking statements due to a number of factors, including those identified in BRP’s annual information form and management’s discussion and analysis of financial condition and results of operations. The forward-looking statements contained in this release represent BRP's expectations as of the date of this release (or as of the date they are otherwise stated to be made), and are subject to change after such date. However, BRP disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
For information:
Catherine Moreau
Senior Advisor, Media Relations
Tel: 514.732.7061
catherine.moreau@brp.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/55f688f8-ca4d-4fde-92df-51b0ab4cd082
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