Brunswick Corporation updated its reportable segments from three to four—Propulsion, Engine Parts & Accessories, Navico Group, and Boat. The company’s previous Parts & Accessories reportable segment now splits into Engine Parts & Accessories and Navico Group.
The change takes effect in the first quarter of 2023.
The Navico Group segment now integrates the legacy Advanced Systems Group business with two acquisitions that the company completed in late 2021—Navico and Relion.
The Engine Parts & Accessories segment consists of Mercury Marine and Quicksilver engine parts and consumables, including oils and lubricants, electrical products, boat parts and systems, and the company’s distribution businesses, Land ‘N’ Sea, BLA and Lankhorst Taselaar.
“With the continued integration of the Navico business and the significant restructuring actions already completed in early 2023, we feel the decision to change our reportable segments will give our stakeholders better visibility into our company and more closely align with our internal operating structure,” said Dave Foulkes, Brunswick Corporation CEO.
