MasterCraft Boat Holdings, Inc. completed its previously announced acquisition of Marine Products Corp. in a cash-and-stock deal valued at approximately $232 million.
As previously announced, Marine Products shareholders received $2.43 per share in cash and 0.232 shares of MasterCraft common stock for each share of Marine Products they own. Marine Products common stock has ceased trading and will no longer be listed on the New York Stock Exchange.
MasterCraft said, “This acquisition brings together two iconic recreational marine companies and creates a diversified portfolio of leading brands—MasterCraft, Crest, Balise, Chaparral, and Robalo—positioned to serve an expanded customer base across multiple high-quality boating categories. The combined company benefits from complementary coastal and inland dealer networks, enhanced scale, and a strengthened platform for innovation, product development, and operational excellence, supporting differentiated product offerings and future growth opportunities.”
Brad Nelson, chief executive officer of MasterCraft, said, “We are pleased to officially welcome Chaparral and Robalo to MasterCraft. This combination brings together highly complementary brands, talented teams, and strong dealer relationships that will enhance our ability to serve customers and drive long-term value. We are confident that the scale, reach and product offering of the combined company positions us well to meet the evolving needs of boating enthusiasts across multiple categories. We are excited about the opportunities ahead and look forward to this next chapter of growth for MasterCraft as we deliver on our commitment to innovation, quality, and operational excellence.”
Wells Fargo acted as exclusive financial advisor to MasterCraft and King & Spalding LLP served as legal counsel. Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor to MasterCraft.
Headquartered in Vonore, Tennessee, MasterCraft’s new portfolio of brands includes MasterCraft, Chaparral, Robalo, Crest, and Balise. Marine Products Corp. owned the Chaparral and Robalo brands.
Image courtesy Marine Products Corp.
