Brunswick Corp., parent company of distributor Land ‘N’ Sea, announced it would sell its Sea Ray brand, facilities and inventory, shocking some analysts and members of the marine industry despite weakness in the larger inboard and sterndrive segment for several quarters.
The company expects to take a loss on the sale, Brunswick CEO Mark Schwabero told analysts and investors during a conference call Tuesday evening.
The company has owned Sea Ray for more than three decades, according to Trade Only Today, having bought it in 1986.