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Navico to acquire BNT’s marine electronics business
19 Feb 2007
Navico International Ltd is to acquire the marine electronics business of Brunswick New Technologies (BNT), a unit of the Brunswick Corporation, the world's largest builder of recreational boats.
Subject to regulatory approvals, this transaction, which is expected to close during March 2007, will create the world's largest supplier of marine electronics for recreational boats.
Included in the agreement are the three brands MX Marine, Navman marine and Northstar. The combined businesses had revenues of $50 million in 2006 with primary operating facilities in New Zealand, the United States, Australia, and the United Kingdom.
‘We are truly excited to add these three highly-regarded brands to the Navico range, thus forming the clear global leader in marine electronics for recreational boats with an estimated market share of 25%,’ said Jens-Thomas Pietralla, president and CEO of Navico. ‘MX Marine, Navman marine and Northstar will further strengthen Navico's house of brands strategy which includes already the renowned B&G, Eagle, Lowrance and Simrad brand names. The new companies will expand Navico's commitment to providing performance, safety and enjoyment on the water.’
As part of the transaction, Brunswick will enter into a supply agreement with Navico, which secures a close partnership with all Navico brands to supply leading-edge technology to the Brunswick Boat Group.
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