Brunswick takes control of Navico
Brunswick Group surprised the boating industry by announcing on June 24, 2021, that it has acquired marine electronics heavyweight Navico Group, which owns the Lowrance, B&G, C-MAP and Simrad brands. The $1.05 billion transaction is being financed by Brunswick Group through a combination of debt and cash. Navico's brands, which had sales of $470 million over the past 12 months, join the equipment portfolio of Brunswick Group's Advanced Systems Group (ASG) subsidiary, which is dedicated to the full range of power management, control and digital products, along with well-known brands like Mastervolt.
Accelerating Brunswick's Future Ship Strategy
The new acquisition of the Brunswick group is part of the ACES (Autonomy, Connectivity, Electrification and Shared-Access) approach announced several years ago and reinforced by the creation of AGS. This was reaffirmed at the latest strategic announcements from the U.S. yachting leader . "The addition of Lowrance, Simrad, B&G and C-MAP to our existing brand portfolio will further enhance our ability to provide complete and innovative solutions to consumers and integrated, global systems to our original equipment manufacturer (OEM) customers," said Dave Foulkes, general manager of Brunswick.
A global player in the yachting industry
With this acquisition, the American leader in the boating industry strengthens its outstanding position in the sector. Owner of both shipyards with famous brands within the Brunswick Boat Group, such as Bosthon Whaler, Quicksilver or Sea Ray, and of the leader in recreational marine engines with Mercury Marine, it is strengthening its position as an equipment manufacturer, which is less well known but already important. Navico joins the brands acquired following the acquisition of Power Products in 2018 The group's products are used in a wide range of industries, such as marine electronics, Mastervolt and Czone, as well as automation products such as Carnegie Robotics and Sea Machines. The group's global turnover in the nautical sector makes it the undisputed world leader in the sector.
