MarineMax Acquires C&C Boat Works, Expanding In The Midwest

MarineMax, Inc. HZO announced the acquisition of C&C Boat Works, a full-service boat dealer in Crosslake, Minnesota. Deal terms not disclosed.
MarineMax now has five facilities in Minnesota as a result of this transaction.
C&C Boat Works has been providing customer service and top brands to Minnesota's Whitefish Chain of Lakes for over 60 years. C&C Boat Works includes indoor and outdoor storage for approximately 600 boats and has over 1,000 feet of lakefront.
MarineMax held cash and equivalents of $204.4 million as of March 31, 2023.
Brett McGill, MarineMax CEO and President, commented, "The addition of C&C Boat Works, which follows our 2021 acquisition of Nisswa Marine, enhances our ability to serve customers and realize further efficiencies across our operations in the region. With an annual economic impact of $6.9 billion, recreational boating is important to Minnesota and a prime passion for its residents."
Price Action: HZO shares traded higher by 2.71% at $29.70 on the last check Friday.