NEW BERN, N.C. (Feb. 16, 2006) - Brunswick Corporation (NYSE: BC) announced today it has acquired Cabo Yachts as part of its strategy to offer a more complete range of premium offshore sportfishing boats within the Hatteras Collection, headquartered in New Bern. Terms of the transaction were not disclosed.
Founded in 1991, Cabo Yachts builds offshore sportfishing boats - both express and flybridge models -- from 31 to 52 feet at its production facility and headquarters in Adelanto, Calif., near Los Angeles. With this addition, the Hatteras Collection now offers a wide selection of inboard-powered fishing vessels ranging from 24 feet with Albemarle through 90 feet with Hatteras.
"Cabo is an excellent addition to our Hatteras Collection of sportfishing offerings, joining the Albemarle and Hatteras brands," explained Brunswick Chairman and Chief Executive Officer Dustan E. McCoy. "The Cabo brand has a well-earned reputation for design, quality, performance and fishability, all prized characteristics within the Brunswick Boat Group. With Cabo, we will serve a broader range of sportfishing enthusiasts and fill out some of the remaining 'white space' within our domestic product portfolio."
Hatteras Collection President Bill Naumann cited the Cabo acquisition as just the latest example of the exponential growth occurring within the organization, which now includes three established brands and four world-class facilities, including a 65-acre facility in Swansboro, North Carolina, which began production on its first Hatteras model in January.
"Cabo Yachts is an important piece of the puzzle for our growing business," said Naumann. "Not only does this addition allow us to offer a full range of products within a specific size range, it gives us the ability to offer a choice of price points so boaters can 'grow' with the Collection as their expectations and resources evolve. And our customers can be assured that all three of our brands share similar core values - including a steadfast commitment to quality, service and innovation."
Cabo's 400 employees and production facility will remain based in Adelanto, as will its current executive staff including Henry Mohrschladt, who will retain his role of Cabo president. Mike Howarth will remain in his new role of senior vice president and chief operating officer, and Greg Bourque continues on with the new title of vice president - sales and marketing.
About the Hatteras Collection
The Hatteras Collection, a unit of Brunswick Corporation, is recognized as a world leader in the construction of quality offshore fishing boats, sportfishing convertibles and luxury motoryachts through the Albemarle Boats, Cabo Yachts and Hatteras Yachts brands. The Collection includes sportfishing vessels ranging from 24 to 90 feet and luxury motoryachts from 64 to 100 feet. For more information, visit www.albemarleboats.com, www.caboyachts.com or www.hatterasyachts.com.