A Bavaria buyer announced at the Cannes show?
Since the announcement at the end of April 2018 of the safeguard procedure of the German boat builder Bavaria Yachts, the weeks have passed waiting for a buyer. After being scheduled for July, the selection was postponed several times. In an interview with our German colleague FloatMagazin.de, the site manager Tobias Brinkmann hopes to reveal the name of the new owner in early September. "From our point of view, the autumn trade fairs in September are a good opportunity for Bavaria buyers to publicly announce this new start. That is why we plan to participate in several trade fairs in September. We will also be present at the Cannes Yachting Festival."
Continuation of production and orders
In this interview, Tobias Brinkmann also talks about Bavaria Yachts' current and future industrial activity. "I can say that production continues at Bavaria and that the boats are under construction for August and September. We plan to complete approximately 24 motorboats and sailboats in Giebelstadt in September. This includes the full range of models." He adds that he can now guarantee the future buyer of Bavaria Yachts a 3-digit order book for 2018/2019.
Bavaria will also continue its commercial action at the autumn boat shows.
Firm offers and low prices
Tobias Brinkmann, questioned by our colleagues, confirms that firm offers to purchase Bavaria are already on the table. If he does not comment on the figure of 25 to 30 M € advanced by the journalist, he envisages a strong loss of value of the company. "The purchase price for Bavaria is determined by evaluating the prices of potential buyers. I believe that this purchase price will be considerably lower than the price obtained by the former shareholders in 2007." As a reminder, the company had been bought before the 2008 crisis by the Bain Capital fund for an estimated amount between 1.1 and 1.3 billion euros.