WASHINGTON (dpa-AFX) - Brunswick Corp. (BC), a maker of recreation products, said Friday it has agreed to acquire Freedom Boat Club or FBC, the largest boat club operator in the U.S. Terms of the transaction, which is expected to close during the second quarter of 2019, were not disclosed.
Mettawa, Illinois-based Brunswick noted that the acquisition of FBC is part of its strategy to expand its presence and scale within the emerging and fast-growing boat club segment.
FBC was founded in 1989. The company and its franchisees service over 20,000 members, providing them with access to a fleet of nearly 2,200 boats at about 170 company-owned or franchised locations across 30 states, Canada and Europe.
Following the completion of the transaction, FBC will become part of Brunswick's Business Acceleration group, which includes Brunswick's Boating Service Network or BSN.
Brunswick noted that through BSN, it has participated in the boat club and rental market since 2014, establishing several partnerships and pilot operations with both select dealers and marina operators.
John Giglio and his management team will continue to lead Freedom Boat Club following the acquisition. Over the last five years, FBC has nearly doubled its location footprint and tripled its membership base.
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