MarineMax Inc. (NYSE: HZO), the nation’s largest recreational boat and
yacht retailer, today announced that it has acquired Parker Boat
Company’s retail boat sales and service operations in Orlando and
Daytona, Florida. Parker Boat Company has served the boating community
for over 85 years.
With this acquisition, MarineMax will now have exclusive distribution
for the Sea Ray product line for the entire state of Florida as well as
additional distribution territory for Boston Whaler, Grady-White, and
Sea Hunt Boats, along with other brands. As part of the transaction,
MarineMax will lease the Orlando and Daytona-based stores, increasing
its store count to 55.
The newly acquired geographic markets are contiguous with MarineMax’s
existing Florida operations, and the Company expects to achieve
operational benefits over time by combining the management, marketing,
and infrastructure of its other stores in the region. The newly acquired
stores will focus on selling their existing boat brands as well as
leveraging MarineMax’s additional product offerings which are needed for
the marketplace.
William H. McGill, Jr., Chairman, President, and Chief Executive Officer
of MarineMax, stated, “The Parker Boat Company name is synonymous with
customer service and boating throughout the Central Florida area. We
look forward to building on their customer-centric traditions, which are
similar to MarineMax’s, while broadening their product offerings even
further. Parker Boat Company’s market area is a corridor to both the
East and West Coasts of Florida and is also one of the fastest growing
parts of the state. We believe this business combination, with the
experienced Parker team and loyal customer following, combined with the
integration of our contiguous stores will further strengthen our ability
to serve this strong boating market.”
About MarineMax
Headquartered in Clearwater, Florida, MarineMax is the nation’s largest
recreational boat and yacht retailer. Focused on premium brands, such as
Sea Ray, Boston Whaler, Meridian, Cabo, Hatteras, Azimut Yachts,
Grady-White, Bayliner, Harris FloteBote, Crest, Scout, Mako, Sailfish,
Nautique and Malibu, MarineMax sells new and used recreational boats and
related marine products and provides yacht brokerage and charter
services. MarineMax currently has 55 retail locations in Alabama,
Arizona, California, Connecticut, Florida, Georgia, Maryland,
Massachusetts, Minnesota, Missouri, New Jersey, New York, North
Carolina, Ohio, Oklahoma, Rhode Island, Tennessee, and Texas and
operates MarineMax Vacations in Tortola, British Virgin Islands.
MarineMax is a New York Stock Exchange-listed company. For more
information, please visit www.marinemax.com
Certain statements in this press release are forward-looking as
defined in the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements include the Company’s expectation of achieving
operational benefits from the acquisition of Parker Boat Company over
time by combining the management, marketing, and infrastructure of other
stores in the region; the Company’s belief that the newly acquired
stores will focus on selling their existing boat brands as well as
leveraging MarineMax’s additional product offerings which are needed for
the marketplace; the Company’s expectation of building on Parker Boat
Company’s customer-centric traditions, while broadening their product
offerings even further; and the Company’s belief that this business
combination, with the experienced Parker team and loyal customer
following, combined with the integration of the Company’s contiguous
stores will further strengthen its ability to serve this strong boating
market. These statements involve certain risks and uncertainties
that may cause actual results to differ materially from expectations as
of the date of this release. These risks include the Company’s ability
to execute its business plan and accomplish its goals and strategies,
general economic conditions and the level of consumer spending, the
Company’s ability to integrate the Parker Boat Company acquisition into
existing operations, and numerous other factors identified in the
Company’s Form 10-K and other filings with the Securities and Exchange
Commission.