BRP Announces Intention to Sell Its Marine Businesses
Posted: Fri Oct 18, 2024 7:49 am
BRP, the parent of Evinrude, has announced that it intends to sell its marine business unit, except for Sea-Doo.
The scary part of that is "Marine parts [and] accessories", which is apparently all that is left of Evinrude.
They are retaining the Sea-Doo jet-ski business.
I wonder what interest there will be in the boat brands. Alumacraft makes aluminum fishing boats in Minnesota. Manitou makes pontoon boats (which can cost $144,000) in Michigan. Telwater is in Australia, so perhaps another big boat brand there might be interested.
The general problems right now with selling new boat is the price of the new boats; new boats are crazy expensive. I don't know where the buyers get the money for them.
Press release excerpt wrote:VALCOURT, QC, Oct. 17, 2024 /PRNewswire/ - BRP Inc. (TSX: DOO) (NASDAQ: DOOO) today announced that it is initiating a process for the sale of its Marine businesses namely Alumacraft, Manitou, Telwater (Quintrex, Stacer, Savage and Yellowfin), and Marine parts, accessories and apparel. This process excludes all activities related to its Sea-Doo personal watercraft, Sea-Doo Switch pontoons and jet propulsion systems.
The scary part of that is "Marine parts [and] accessories", which is apparently all that is left of Evinrude.
They are retaining the Sea-Doo jet-ski business.
I wonder what interest there will be in the boat brands. Alumacraft makes aluminum fishing boats in Minnesota. Manitou makes pontoon boats (which can cost $144,000) in Michigan. Telwater is in Australia, so perhaps another big boat brand there might be interested.
The general problems right now with selling new boat is the price of the new boats; new boats are crazy expensive. I don't know where the buyers get the money for them.