Marine
Brunswick Acquires Albemarle Boats Joining Hatteras to Target Offshore Sportfishing
LAKE FOREST, Ill., March 2, 2005 /PRNewswire-FirstCall via COMTEX/ -- Brunswick Corporation
(NYSE: BC) announced today it has acquired Albemarle Boats as part of its
strategy to offer a complete range of offshore sportfishing boats from 24 to
90 feet. Terms of the transaction were not disclosed. Founded in 1978,
Albemarle builds offshore sportfishing boats from 24 to 41 feet at its
production facility and headquarters in Edenton, N.C.
"Popular and highly respected, the Albemarle line-up is a perfect
complement to our family of premier Hatteras sportfishing convertibles and
motoryachts," explained Brunswick Chairman and Chief Executive Officer George
W. Buckley. "It is an important part of our stated strategy to 'fill out the
white spaces' within our product portfolio to support our dealer network and
provide a boat for virtually any type of boater. While preferred by serious
sportfishing enthusiasts, our Hatteras product portfolio begins at 50 feet.
With Albemarle we will serve a greater range of sportfishing boaters as well
as introduce them to Brunswick quality and innovation at an earlier stage in
the ownership experience than is currently available with only Hatteras."
"We have found that boaters often will stay with Brunswick boats and
migrate to our other brands as their needs and desires, often for a larger
craft, evolve," explained Dustan E. McCoy, president of the Brunswick Boat
Group. "With seven models between 24 and 41 feet, Albemarle offers us ample
and attractive opportunity to serve this segment of the sportfishing market.
Furthermore, much like Brunswick, Albemarle has a rich tradition and history
of boatbuilding experience. Albemarle's focus on quality and innovation as
well as its guiding principles, which emphasize customer satisfaction and
continuous improvement, are right in line with our thinking at the Brunswick
Boat Group."
Albemarle's 135 employees and production facility will remain based in
Edenton and will become part of the Hatteras Group, which will be headed by
William C. Naumann. Hatteras is based in New Bern, N.C. Scott "Scotty"
Harrell, Jr., will remain as president of Albemarle, reporting to Naumann, who
will also continue as president of Hatteras.
"We are extremely pleased that Scotty and his team will be staying with
Albemarle," Naumann said. "Scotty has been at the helm since 1990, and during
that time has overseen a period of unparalleled growth and expansion at
Albemarle."
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; Teignbridge propellers; MotoTron
electronic controls; Northstar marine electronics; Navman marine and GPS-based
products; IDS dealer management systems; Sea Ray, Bayliner, Maxum, Hatteras,
Meridian, Sealine, Bermuda, Ornvik, Quicksilver, Savage and Uttern pleasure
boats; Baja high-performance boats; Albemarle, Arvor, Boston Whaler, Palmetto,
Sea Boss, Sea Pro and Trophy offshore fishing boats; Crestliner, Lowe, Lund
and Princecraft aluminum fishing, deck and pontoon boats; Attwood marine parts
and accessories; Land 'N' Sea marine parts and accessories distributor; Life
Fitness, Hammer Strength and ParaBody fitness equipment; Brunswick bowling
centers, equipment and consumer products; Brunswick billiards tables; and
Valley-Dynamo pool, Air Hockey and foosball tables. For more information,
visit http://www.brunswick.com .
SOURCE Brunswick Corporation
Dan Kubera of Brunswick Corporation, Director -- Public and Financial Relations,
+1-847-735-4617
http://www.prnewswire.com
