~Acquires Prominent Boston Area Marina~
MarineMax, Inc. (NYSE:HZO), the nation’s largest recreational boat and yacht retailer, today announced it has expanded its presence in the Northeast by acquiring Bay Pointe Marina in Massachusetts. Bay Pointe Marina is a well-recognized and established full service marina serving the greater Boston market and is located on the Town River in Quincy.
Bay Pointe Marina, first opened as a recreational marina in the 1960’s, has approximately 250 in water slips and 11 acres to store more than 300 boats during the winter, as well as a 50-ton travel lift capable of hauling boats over 65 feet. The marina also includes a popular 300-seat restaurant tenant known as Bay Pointe Waterfront.
W. Brett McGill, President and Chief Operating Officer of MarineMax stated, “Strategically adding marinas in key markets, is an important component of our ongoing strategy to expand our retail operations and grow our market share. Building upon our 2016 successful merger with Russo Marine in the Boston area, we believe adding this great marina will enhance our market leading presence in this strong boating market. Bay Pointe Marina, combined with our other regional locations, will enable us to expand our service capability and welcome new customers to our boating family.”
About MarineMax
Headquartered in Clearwater, Florida, MarineMax is the nation’s largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Mastercraft, Bennington, Scout, Sailfish, Sea Pro, Sportsman, Scarab Jet Boats, Yamaha Jet Boats, Tige, Aquila, Nautique, and NauticStar, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 63 retail locations in Alabama, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, South Carolina, and Texas, and operates MarineMax Vacations in Tortola, British Virgin Islands. MarineMax is a New York Stock Exchange-listed company. For more information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the addition of the Bay Point Marina enhancing the Company’s presence in the Boston boating market and the transaction enabling the Company to expand its service capability and welcome new customers to its boating family. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the assumption the Company’s abilities to accomplish its goals and strategies, the success of the acquisition, synergies expected from the acquisition, general economic conditions and the level of consumer spending, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2017 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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MarineMax, Inc.
Michael H. McLamb
Chief Financial Officer
or
Public
Relations
Abbey Heimensen, 727-531-1700
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Investor
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ICR, LLC.
Brad Cohen, 203-682-8211
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