Marinemax Enters Asset Exchange Agreement With Mastercraft Boat Holdings; Cruisers Yachts To Assume Aviara Brand Of Luxury Dayboats; Marinemax Receives Assets Including Molds, Tooling, And Inventory; Other Financial Terms Not Disclosed
Portfolio Pulse from Benzinga Newsdesk
Marinemax has entered an asset exchange agreement with Mastercraft. Cruisers Yachts, a subsidiary of Marinemax, will assume the Aviara brand of luxury dayboats. Marinemax will receive assets including molds, tooling, and inventory, and will administer manufacturer warranties and market the brand. The agreement excludes Aviara production facilities and personnel.
August 08, 2024 | 9:26 pm
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Marinemax has entered an asset exchange agreement with Mastercraft, where Cruisers Yachts will assume the Aviara brand of luxury dayboats. Marinemax will receive assets including molds, tooling, and inventory, and will administer manufacturer warranties and market the brand.
The asset exchange agreement is likely to positively impact Marinemax (HZO) in the short term as it expands its product offerings and assumes a luxury brand. The receipt of assets and the responsibility to market the brand could enhance revenue streams.
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