Brunswick sells fitness division to concentrate on marine
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The Brunswick Corporation – a global manufacturer of fishing boats and equipment– is to focus on its marine business following the sale of its fitness division.
Brunswick is now comprised solely of its marine portfolio, which includes fishing boat brands, Crestliner, Lund, Lowe Boats, Thunder Jet and Princecraft.
“With this sale, we have sharpened our focus on Brunswick’s unique and formidable marine platform,” said David Foulkes, CEO of the Illinois-based business. “We are exceptionally positioned as a leader in the marine industry.”
The fitness business was sold to KPS Capital Partners, a private investment firm, in an all-cash transaction worth in the region of $490 million. Brunswick reported more than $4 billion annual revenue from its marine products and services in 2018.