Freedom Boat Club Expands To Spain By Acquiring Fanautic For Undisclosed Sum

Freedom Boat Club, a division of Brunswick Corporation BC, has acquired Fanautic Club for an undisclosed sum.
Fanautic boat club has 23 locations in major coastal cities and tourist centers across Spain. It currently serves more than 600 members.
The acquisition expands Freedom’s presence in Europe, following France and the United Kingdom.
Of the 23 locations, six will be owned and operated as corporate locations, and 17 will continue to be franchisee owned and operated.
"Expanding our presence across tier-one European markets is consistent with the aggressive shared-access growth plans that our leadership team outlined during Brunswick's recent Investor Day presentation,” said Jason Worthy, of Boating Services, EMEA.
Fanautic deal marks Freedom Boat Club Corporate Team’ fourth acquisition in over a year.
Brunswick had cash and marketable securities of $488.9 million at the end of first quarter of FY21.
Price action: BC shares are trading higher by 2.31% at $97.35 on the last check Friday.