LAKE FOREST, Ill., July 29 /PRNewswire-FirstCall/ -- Brunswick
Corporation (NYSE: BC) today announced that it has sold Triton
Boats to Fishing Holdings, LLC, an affiliate of Platinum Equity.
Terms of the transaction were not disclosed.
"This decision was part of our ongoing strategic review to
further refine our product portfolio and best focus our resources
on those brands and marine segments that we believe are core to our
success going forward," said Brunswick Chairman and Chief Executive
Officer Dustan E. McCoy. "As such,
Brunswick will maintain its
leadership position in the recreational and fishing boat markets,
with a strong presence in the freshwater and sportfishing segments
as well as leading brands in the runabout/cruiser and yachts
segments."
In connection with this transaction, production of Triton
fiberglass boats will be relocated from Ashland City, Tenn., to Flippin, Ark. Lund fiberglass manufacturing will be moved to
the Brunswick Boat Group's (BBG) Tellico fiberglass boat
manufacturing facility in Vonore,
Tenn., while Trophy fiberglass fishing boats will continue
to be built in Ashland City
through the remainder of the year as Brunswick evaluates strategic alternatives for
the brand.
Brunswick will retain rights to
certain intellectual property and other rights to Triton aluminum
boats, and will continue to sell those models under license as part
of Brunswick's aluminum portfolio.
These boats will continue to be built at BBG's Lebanon, Mo., aluminum manufacturing facility.
BBG's Cypress Cay pontoon boats, which are manufactured in Ft.
Wayne, Ind., and carried by many
Triton dealers, are not affected by this transaction.
Brunswick's Mercury Marine unit will continue supplying
propulsion systems to Triton and Fishing Holdings' other
brands.
As a result of these actions, Brunswick said it estimates that the
associated restructuring charges could total between $18 million to $20 million, pretax, of which
$15 million was recorded in
Brunswick's second quarter
financial results.
"These decisions, while strategic in nature, are never easy or
without difficult consequences," McCoy concluded, "but they are
nevertheless required by business realities, and are no reflection
upon the dedication and expertise of the men and women at the
Ashland City facility."
About Brunswick
Headquartered in Lake Forest,
Ill., Brunswick Corporation endeavors to instill "Genuine
Ingenuity"(TM) in all its leading consumer brands, including
Mercury and Mariner outboard engines; Mercury MerCruiser
sterndrives and inboard engines; MotorGuide trolling motors;
Attwood marine parts and accessories; Land 'N' Sea, Kellogg Marine,
Diversified Marine and Benrock parts and accessories distributors;
Arvor, Bayliner, Bermuda, Boston
Whaler, Cabo Yachts, Crestliner, Cypress Cay, Harris FloteBote,
Hatteras, Lowe, Lund, Meridian,
Ornvik, Princecraft, Quicksilver, Rayglass, Sea Ray, Sealine,
Suncruiser, Triton Aluminum, Trophy, Uttern and Valiant boats; Life
Fitness and Hammer Strength fitness equipment; Brunswick bowling centers, equipment and
consumer products; Brunswick
billiards tables and foosball tables. For more information, visit
http://www.brunswick.com.
SOURCE Brunswick Corporation