Brunswick Corp. said it has entered into an agreement to acquire Freedom Boat Club. Terms were not disclosed. Brunswick said the acquisition was part of its strategy “to expand its presence and scale within the emerging and fast-growing boat club segment.”
This story originally appeared in Trade Only Today.
Founded in 1989, Freedom is the largest boat club operator in the U.S. A Brunswick statement said that Freedom Boat Club has more than 20,000 members and a fleet of nearly 2,200 boats at approximately 170 company-owned or franchised locations in 30 U.S. states, Canada and Europe.
“As the leader in the boat club segment, Freedom offers both immediate scale and an established marketplace presence and expertise,” said David M. Foulkes, Brunswick CEO, in the statement. “FBC’s profitable and cycle-resistant business model is an excellent fit within our marine portfolio.”
Foulkes said the acquisition will also strengthen Brunswick’s “ability to benefit from the growth in the broader sharing economy and exposes a wider range of consumers” to the boating lifestyle.
FBC will become part of Brunswick’s Business Acceleration group, which includes Brunswick’s Boating Service Network. Brunswick has participated in the boat club and rental market since 2014, establishing a series of partnerships and pilot operations with dealers and marina operators.
FBC CEO John Giglio and his management team will continue to lead Freedom Boat Club.
