Brunswick Corporation Continues to Execute on its Next Wave Strategy with Multiple Industry Changing Initiatives
Brunswick Corporation (NYSE: BC) showcased its "Next Wave" strategy during its 2021 Investor Day, emphasizing growth through its ACES (autonomous, connected, electrification, shared access) initiatives. Key actions include the acquisition of Navico, which enhances digital offerings, and the launch of innovative products such as the Mercury Marine 7.6L V12 600HP Verado engine. Brunswick aims to launch five electric propulsion products by 2023 and enhance customer experiences through new apps. These initiatives position Brunswick to meet and exceed its 2022 strategic goals amid high demand.
- Acquisition of Navico accelerates digital strategy.
- Launch of Mercury Marine's powerful 600HP Verado engine.
- Introduction of customer-focused apps improves ownership experience.
- Expansion through Freedom Boat Club's acquisition of Fanautic Club.
- Planned launch of five electric propulsion products by 2023.
- None.
METTAWA, Ill., July 13, 2021 (GLOBE NEWSWIRE) -- During its 2021 Investor Day presentation in May, Brunswick Corporation (NYSE: BC) unveiled the “Next Wave” of the Company’s strategy highlighting the next phase of business evolution, products, technologies, unique experiences, and enterprise synergies. Brunswick has already begun to elevate the boating experience and appeal to an expanded demographic through execution of its ACES (autonomous, connected, electrification, shared access) strategy and other consumer-focused initiatives.
In the few months since the May roll-out of the Next Wave strategy, Brunswick has executed a series of actions that represent significant proof-points:
- Brunswick entered into definitive agreement to acquire Navico and its four leading brands (Simrad, Lowrance, B&G and C-MAP) that immediately accelerates Brunswick’s ACES strategy and solidifies the Company’s commitment to acquire businesses that strengthen Brunswick’s ability to provide complete, innovative digital solutions to OEM customers.
- In late June, Mercury Marine officially released for sale and shipment the world’s most innovative and powerful outboard engine - the new 7.6L V12 600HP Verado.
- The launch of the “MyWhaler” and “Sea Ray+” apps which are now available for Apple and Android users, advances the ACES Connectivity strategy by improving the boat ownership experience, reducing friction across the entire ownership journey.
- Freedom Boat Club acquired Fanautic Club, one of the largest European boat clubs with 23 locations across Spain, accelerating Brunswick’s shared-access expansion across Europe.
- The launch of the H22 from Heyday Wake Boats – a new, leading-edge wake-surf model signaling a doubling-down on this fast-growing brand appealing to a younger demographic.
“We are tracking well ahead of our 2022 strategic goals, creating smart, connected products and innovative, personalized experiences that will have long-lasting and positive implications for our Company and the boating industry for years to come,” said Dave Foulkes, Brunswick Corporation CEO. “The initiatives we announced during our 2021 Investor Day presentation and our subsequent actions are bringing to life the Next Wave of our strategy even as we continue to experience and respond to extraordinary demand across our portfolio.”
In addition to the many initiatives already in flight, Brunswick signaled further major upcoming initiatives during its investor presentation towards the commercialization of ACES, including the announcement that it would launch a number of industry-changing electrification products:
- Mercury and Advanced Systems Group together will launch five electric propulsion products by 2023, with the first one launching in 2022.
- Advanced Systems Group expects to have installed 15,000 advanced battery systems replacing internal combustion engine generators by 2023.
- Brunswick Boat Group will have launched electric boats in four different segments by 2023.
Brunswick plans to showcase its Next Wave strategy during the 2022 Consumer Electronics Show (CES) - an opportunity to bring together Brunswick’s ACES strategy with the next evolutions of the Company’s award-winning in-market products.
“We will debut some of the electrification and connectivity products that we teased during Investor Day, in addition to some advanced autonomy and visualization concepts,” said Foulkes. “All of this within a deeply immersive and engaging overall experience that will transport visitors from the convention center to richly simulated on-water environments.”
About Brunswick
Headquartered in Mettawa, Ill., Brunswick Corporation’s leading consumer brands include Mercury Marine outboard engines; Mercury MerCruiser sterndrive and inboard packages; Mercury global parts and accessories including propellers and SmartCraft electronics; Advanced Systems Group, which includes industry-leading brands like MotorGuide, Attwood, Mastervolt, Blue Sea Systems, CZone, and ASG Connect system integrators; Land ’N’ Sea, BLA, Payne’s Marine, Kellogg Marine, and Lankhorst Taselaar marine parts distribution; Mercury and Quicksilver parts and oils; Bayliner, Boston Whaler, Crestliner, Cypress Cay, Harris, Heyday, Lowe, Lund, Princecraft, Quicksilver, Rayglass, Sea Ray, Thunder Jet and Uttern boats; Boating Services Network, Freedom Boat Club and Boat Class. For more information, visit brunswick.com.
Forward-Looking Statements
Certain statements in this news release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on current expectations, estimates, and projections about Brunswick’s business and by their nature address matters that are, to different degrees, uncertain. Words such as “may,” “could,” “should,” “expect,” "anticipate," "project," "position," “intend,” “target,” “plan,” “seek,” “estimate,” “believe,” “predict,” “outlook,” and similar expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties that may cause actual results to differ materially from expectations as of the date of this news release. These risks include, but are not limited to: the effect of adverse general economic conditions, including the amount of disposable income consumers have available for discretionary spending; changes in currency exchange rates; fiscal policy concerns; adverse economic, credit, and capital market conditions; higher energy and fuel costs; competitive pricing pressures; the coronavirus (COVID-19) pandemic, including, without limitation, the impact on global economic conditions and on capital and financial markets, changes in consumer behavior and demand, the potential unavailability of personnel or key facilities, modifications to our operations, and the potential implementation of regulatory actions; managing our manufacturing footprint; weather and catastrophic event risks; international business risks; our ability to develop new and innovative products and services at a competitive price; our ability to meet demand in a rapidly changing environment; loss of key customers; actual or anticipated increases in costs, disruptions of supply, or defects in raw materials, parts, or components we purchase from third parties, including as a result of pressures due to the pandemic; supplier manufacturing constraints, increased demand for shipping carriers, and transportation disruptions; absorbing fixed costs in production; joint ventures that do not operate solely for our benefit; our ability to successfully implement our strategic plan and growth initiatives; the possibility that the announced acquisition of Navico will not be consummated within the anticipated time period or at all, including as the result of regulatory, market, or other factors; our ability to integrate acquisitions, including Navico; the potential for disruption to our business in connection with the Navico acquisition, making it more difficult to maintain business and operational relationships; the risk that unexpected costs will be incurred in connection with the Navico transaction; the possibility that the expected synergies and value creation from the Navico transaction will not be realized or will not be realized within the expected time period; attracting and retaining skilled labor, implementing succession plans for key leadership, and executing organizational and leadership changes; our ability to identify, complete, and integrate targeted acquisitions; the risk that strategic divestitures will not provide business benefits; maintaining effective distribution; adequate financing access for dealers and customers; requirements for us to repurchase inventory; inventory reductions by dealers, retailers, or independent boat builders; risks related to the Freedom Boat Club franchise business model; outages, breaches, or other cybersecurity events regarding our technology systems, which could affect manufacturing and business operations and could result in lost or stolen information and associated remediation costs; our ability to protect our brands and intellectual property; changes to U.S. trade policy and tariffs; having to record an impairment to the value of goodwill and other assets; product liability, warranty, and other claims risks; legal and regulatory compliance, including increased costs, fines, and reputational risks; changes in income tax legislation or enforcement; managing our share repurchases; and certain divisive shareholder activist actions.
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