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MarineMax, Inc. (NYSE: HZO), the largest recreational boat and yacht retailer, has acquired Boatzon, a fully online boat and marine retail platform, through its technology entity, New Wave Innovations. This acquisition aims to enhance customer experience in financing, purchasing, and insuring boats online. Shawn Berg, MarineMax's Chief Digital Officer, emphasized that the integration of Boatzon will bolster technological growth in the marine industry. Boatzon co-founders expressed excitement about the opportunities to further innovate within MarineMax's framework.
Positive
Acquisition of Boatzon enhances MarineMax's digital retail presence.
Boatzon's technology expected to streamline customer experience in boat purchasing.
Strategic alignment with MarineMax's growth initiatives in the marine industry.
Negative
None.
CLEARWATER, Fla.--(BUSINESS WIRE)--
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, has completed the acquisition of Boatzon, the first 100 percent online boat and marine digital retail platform, through its recently formed technology entity, New Wave Innovations. Just as technology has changed the car-buying experience, the integrated Boatzon platform is giving consumers the ease and convenience of browsing for financing, purchasing, and insuring a boat, entirely online.
Shawn Berg, EVP, Chief Digital Officer of MarineMax and President of New Wave Innovations, stated, “Technology is integral to the growth of the marine industry, and with the acquisition of Boatzon we have added what we believe is the preeminent technology business connecting consumers and marine dealers. Boatzon’s unique combination of FinTech and InsureTech solutions is creating exactly what current and prospective boat owners want—a simpler, faster, and more efficient buying experience. Through New Wave Innovations we are building on this foundation, giving the Boatzon team access to technology, digital tools, and capital to continue to innovate and grow. We are thrilled to welcome Bryan, Michael, and the entire Boatzon team to the MarineMax family.”
Bryan Lenett, Co-Founder of Boatzon, added, “Fueled by MarineMax’s international presence and global leadership in the marine industry, we are excited about the significant opportunities ahead to address the robust long-term growth forecast for the recreational boating and yacht markets. We are exceptionally proud to become an integral part of MarineMax’s technology initiatives.”
Michael Muchnick, Co-Founder of Boatzon, commented “Since its founding, Boatzon has become the retail technology platform for the marine industry, delivering an exceptional experience for customers and dealers alike. We are thrilled to become part of MarineMax and look forward to continuing to build on Boatzon’s rapid success.”
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 125 locations worldwide, including 78 retail dealership locations, some of which include marinas. Collectively, with the IGY acquisition, MarineMax owns or operates 57 marinas worldwide. Through Fraser Yachts and Northrop & Johnson, the Company also is the largest superyacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also owns Boatyard, an industry-leading customer experience digital product company. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). 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 significant opportunities ahead to address the robust long-term growth forecast for the recreational boating and yacht markets, and Boatzon's continued innovation, growth, and success. 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 Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the performance and integration of the recently-acquired businesses, general economic conditions, as well as those within the Company's industry, the level of consumer spending, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2022 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.
