OneWater Marine Named Sole U.S. Distributor for Sunseeker Yachts
OneWater Marine Inc. (NASDAQ: ONEW) has announced its appointment as the sole U.S. distributor for Sunseeker Yachts, effective from the anticipated closing in Q3 2021. This partnership aims to enhance OneWater's position in the luxury yacht market following the recent formation of the OneWater Yacht Group. The agreement enables OneWater to manage the Sunseeker dealer network across various U.S. markets, expanding its portfolio and geographical reach. OneWater operates 69 retail locations across 10 states, solidifying its status as a leading recreational boat retailer.
- Appointment as the sole U.S. distributor for Sunseeker Yachts expected to close in Q3 2021.
- Strengthens OneWater's position in the luxury yacht market.
- Expands geographical reach and brand portfolio with the formation of OneWater Yacht Group.
- Dependence on the success of the Sunseeker distribution could pose risks if demand declines.
- Potential impacts from industry seasonality and volatility affecting yacht sales.
Further enhances portfolio of premium brands and geographic reach in the U.S.
BUFORD, Ga., April 21, 2021 (GLOBE NEWSWIRE) -- OneWater Marine Inc. (NASDAQ: ONEW) (“OneWater” or “the Company”) announced today that it was named as the sole U.S. distributor for Sunseeker Yachts. The agreement is expected to close in the third quarter and will accelerate the growth of the newly formed OneWater Yacht Group announced by the Company last month.
Sunseeker is a leading manufacturer of premium yachts based in the U.K., with customers across the globe. OneWater is already a key dealer for Sunseeker across most of the eastern seaboard and under the terms of the agreement, will now manage the Sunseeker dealer network in other markets throughout the U.S.
“This first-of-its-kind agreement is a testament to our proven execution, industry-leading technology, and robust footprint, particularly in the Eastern U.S. We are thrilled to be deepening our partnership with Sunseeker as its sole distributor in the U.S., further enhancing our presence in the yacht category. This agreement, combined with our recent acquisition of Roscioli Yachting Center and formation of the OneWater Yacht Group, unifies and expands our yacht sales and services offerings. We believe this provides a springboard for further growth as we continue to expand our portfolio of premium brands and extend our reach in the luxury yacht market,” said Austin Singleton, Chief Executive Officer for OneWater Marine.
About OneWater Marine Inc.
OneWater Marine Inc. is one of the largest and fastest-growing premium recreational boat retailers in the United States. OneWater operates 69 stores throughout 10 different states, seven of which are in the top twenty states for marine retail expenditures. OneWater offers a broad range of products and services and has diversified revenue streams, which include the sale of new and pre-owned boats, parts and accessories, finance and insurance products, maintenance and repair services and ancillary services such as boat storage.
Investor or Media Contact:
Jack Ezzell
Chief Financial Officer
IR@OneWaterMarine.com
Cautionary Statement Concerning Forward-Looking Statements
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including regarding our strategy, future operations, financial position, prospects, plans and objectives of management, growth rate and its expectations regarding future revenue, operating income or loss or earnings or loss per share. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “will be,” “will likely result,” “should,” “expects,” “plans,” “anticipates,” “could,” “would,” “foresees,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential,” “outlook” or “continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions. These forward-looking statements are not guarantees of future performance, but are based on management's current expectations, assumptions and beliefs concerning future developments and their potential effect on us, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Our expectations expressed or implied in these forward-looking statements may not turn out to be correct.
Important factors, some of which are beyond our control, that could cause actual results to differ materially from our historical results or those expressed or implied by these forward-looking statements include the following: decline in demand for our products and services, the seasonality and volatility of the boat industry, our acquisition and business strategies, the inability to comply with the financial and other covenants and metrics in our credit facilities, cash flow and access to capital, effects of the COVID-19 pandemic and related governmental actions or restrictions on the Company’s business, the timing of development expenditures, and other risks. More information on these risks and other potential factors that could affect our financial results is included in our filings with the Securities and Exchange Commission, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Any forward-looking statement speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise.
FAQ
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