OneWater Marine Signs Definitive Deal To Acquire Garden State Yacht Sales; No Terms Disclosed
Portfolio Pulse from Benzinga Newsdesk
OneWater Marine (ONEW) has entered into a definitive agreement to acquire Garden State Yacht Sales, a full-service marina and boat dealer in NJ, with $14.0 million in sales for 2023. The acquisition involves the net assets of Garden State, including inventory, for minimal capital outlay. No financial terms of the deal were disclosed.
April 11, 2024 | 8:31 pm
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OneWater Marine's acquisition of Garden State Yacht Sales, a dealer with $14M in sales, expands its operational footprint with minimal capital outlay.
The acquisition of Garden State Yacht Sales by OneWater Marine is likely to have a positive short-term impact on ONEW's stock price. This strategic move not only expands OneWater's footprint in the marine industry but also adds a profitable operation with $14M in sales to its portfolio. The deal's structure, involving minimal capital outlay, suggests a financially savvy acquisition, likely to be viewed favorably by investors. The lack of disclosed financial terms makes the exact impact uncertain, but the strategic nature of the acquisition and the addition of significant sales volume to OneWater's operations suggest a positive outlook.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90