Sign of the times...

Stripermann2 · Post by **Stripermann2** » Fri Jan 04, 2013 2:46 pm

Brunswick looking to unload Hatteras and Cabo.

Brunswick Corporation: Brunswick Announces Plan To Exit Hatteras And CABO Brands

LAKE FOREST, Ill. Jan. 3, 2013 --- Brunswick Corporation (NYSE: BC) announced today that its board of directors has authorized the Company to seek a buyer for its Hatteras and CABO brands of motoryachts and sportfishing convertibles.

"This action reflects our decision to exit the sportfishing convertible category and to concentrate our resources in the yacht segment on our remaining brands, Sea Ray and Meridian Yachts. When completed, this action will also contribute to our goal of a break-even or better Boat Segment in 2013, even if the larger sterndrive/inboard fiberglass markets do not improve," said Brunswick Chairman and Chief Executive Officer Dustan E. McCoy.

"The current plan assumes that the eventual purchaser will retain both the physical plant and the talented workforce of Hatteras/CABO. During the sale process, which we seek to complete in an expeditious manner, Hatteras and CABO will maintain ongoing operations, and we will keep our employees and dealer network informed of our progress."

As a result of this decision, the Company expects to record charges in the range of $70 million to $80 million, a majority of which will be recorded in the fourth quarter of 2012.

Brunswick purchased Hatteras Yachts in 2001 and CABO in 2006. Both are based in New Bern, N.C.

Big D · Post by **Big D** » Fri Jan 04, 2013 4:10 pm

Oh oh. Man, I hope the bleeding stops soon. Hoping for a better year in this and other industries. Good to know Jamie, thanks.

gettaway · Post by **gettaway** » Fri Jan 04, 2013 8:01 pm

my comment will most likely get deleted or moved to pontifications: BUT:

Is corporate stratagy like this a surpise, especially in luxury markets like boats?

Tax the rich, then tax them more, they should pay thier fair share, add a novel of regulations to manufacturers and file law suits for every minor event.....

remember the last tax the rich scheme in the form of a luxury tax, how many boat builders went under, how many "fair shake" middle class families lost thier jobs in the name of getting even with the rich and making them pay...

holy crap it's deja vu all over again

prowlersfish · Post by **prowlersfish** » Fri Jan 04, 2013 10:46 pm

Something I hate to see for sure .

myakka · Post by **myakka** » Sat Jan 05, 2013 3:40 am

Robin hood policies ALWAYS hurt the people politicians are, supposedly, trying to help.

alexander38 · Post by **alexander38** » Sat Jan 05, 2013 6:13 am

It's going to be sad for sure. Cabo mkes a real nice S.F. love the lines of them ( yes Paul I said that )

And nothing needs to be said about Hat, But the market is limb soft. I can't think of the last time I seen a new mid-size Hat. the 36' to say 45' Maybe someone like Marquis aka Carver who has already gone thru this will pick one up.
Here's a dream for you, Buy Cabo and rename the line Trojan....

aaronbocknek · Post by **aaronbocknek** » Sat Jan 05, 2013 9:40 am

well, mainship and hunter and i believe luhrs are now part of marlow marine and silverton has been bought by egg harbor. if done correctly, the other brands might survive too. with marlows purchase of the former sparkman-stevens dry dock company in florida, refits and such will be a good business model going forward.

http://www.tradeonlytoday.com/home/5212 ... -challenge

gettaway · Post by **gettaway** » Sat Jan 05, 2013 11:05 am

I thought luhrs went into BK with no plans of continuing, Hunter was the only surviving brand.

Hatteras and Viking stopped building a 35-40' boat a number of years ago and went into big luxury sportfishers and some cruisers, but was told that they moved away from the production size boat as there was not much room in that market with all of the less expensive production brands in that size range.

gettaway · Post by **gettaway** » Sat Jan 05, 2013 11:11 am

Guess I am wrong, thank god

http://www.luhrs.com/images09/LuhrsMBPressReleaseLR.pdf

k9th · Post by **k9th** » Sat Jan 05, 2013 4:15 pm

Hatteras is a great boat - hopefully they will continue in business.

summer storm · Post by **summer storm** » Sat Jan 05, 2013 4:36 pm

aaronbocknek wrote:well, mainship and hunter and i believe luhrs are now part of marlow marine and silverton has been bought by egg harbor. if done correctly, the other brands might survive too. with marlows purchase of the former sparkman-stevens dry dock company in florida, refits and such will be a good business model going forward.

http://www.tradeonlytoday.com/home/5212 ... -challenge

I hope they can turn around the Merrill Stevens mega yacht yard but it won't be easy.

prowlersfish · Post by **prowlersfish** » Tue Aug 06, 2013 7:40 am

Maybe some hope here

http://www.boatingindustry.com/news/201 ... eras-cabo/

summer storm · Post by **summer storm** » Tue Aug 06, 2013 9:40 am

within the next few weeks we intend to enter into an asset purchase agreement whereby we will sell the Hatteras and CABO yacht business to Navis HCY Acquisition LLC, an affiliate of Versa Capital Management, LLC

Money managers always make the best best boat builders. sigh.....

I guess it's better than folding the brand.

Trojan Boat Forum

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