MarineMax acquires KCS International, Inc. (Cruisers Yachts)
MarineMax recently announced the acquisition of American boatbuilder KCS International, Inc., better known as Cruisers Yachts, headquartered in Oconto, Wisconsin.
Brett McGill, CEO and President of MarineMax, stated, "The strategic acquisition of Cruisers Yachts benefits our customers by filling a meaningful void in our product portfolio, which was created in 2018 by the loss of Sea Ray sport yacht and yacht models. The acquisition also aligns with our long-term strategy of expanding our gross margins by adding a higher margin business. Cruisers has a seasoned, passionate, and successful team. Their industry knowledge and their recent expansion, combined with MarineMax's resources, will enable Cruisers to accelerate its positioning in the market. We can continue to expand and grow with Cruisers' model line-up in available markets. We are excited to have Mark Pedersen join our management team as he will continue to lead the operations of Cruisers' more than 350 team members."
With over 100 years of heritage, Cruisers has successfully navigated through various industry cycles and grown through innovation and product leadership. After launching the distinguished design and innovation of the Cantius yacht series in 2011, Cruisers' growth and market share accelerated. They are recognized as one of the world's premier manufacturers of premium yachts, producing models from 33' to 60' feet. Cruisers has an accomplished dealer network, including SkipperBud's and Silver Seas Yachts, which MarineMax acquired in October 2020, plus five recently added MarineMax locations. Cruisers, due to demand, recently announced the expansion of their production capacity by purchasing a 216,000 square foot, purpose-built boat manufacturing plant in Pulaski, WI. The expansion allows Cruisers to more than double its capacity over time. MarineMax's acquisition of Cruisers Yachts ensures it will always have a premium, American-built yacht in its product portfolio.
Mark Pedersen, President of Cruisers Yachts, stated, "We are very excited about becoming part of the MarineMax family and the great opportunities that lie ahead. Over the years, we have recognized that certain customers prefer only to buy an American built yacht, and our brand compliments MarineMax's other offerings. The MarineMax team has a proven track record of great success in our industry. With our loyal Cruisers owners and a strong dealer network, we will all greatly benefit from being a part of MarineMax."
Boat owners that purchase through MarineMax join an elite group, considered family. They receive access to exclusive owners' only Getaways!® trips and events, exceptional service and parts support to stay on the water all season, and a lifetime of memories with friends and family on the boat of their dreams.
ABOUT MARINEMAX
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 77 retail dealership locations, including 30 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, it is also the largest super-yacht services provider, operating 27 locations across the globe. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE:HZO).
