A Move Expected to Strengthen Both Companies
Maverick Boat Company Inc. president Scott Deal announced today he will purchase the Cobia boat brand from C&C Manufacturing Inc., which also builds Century Boats, a move expected to strengthen both Century and Cobia boat brands and generate a win-win-win situation for customers, dealers and the manufacturers. The purchase price was not disclosed.
“We are thrilled and excited at the opportunities presented by this acquisition,” said Scott Deal, president and CEO of Fort Pierce, Fla.-based Maverick Boat Company Inc. “The Cobia brand will complement our overall business strategy of building high-quality recreational fishing boats, and gives us a springboard to explore many new markets.”
C&C Vice President and General Manager Dean Burnett said, “During the past several years, demand and market share for both Century and Cobia brands has continued to grow, as a result, orders outpaced supply. We had outgrown the capacity of our production facilities in Panama City, and therefore the decision was made to concentrate our plans with one of the two brands.
“The sale of Cobia gives us the room we need to grow and a singular focus on our Century brand. Now both companies will be able to focus on effectively meeting dealer and customer needs, not the least of which is increasing customer satisfaction and building more quality boats.”
“We clearly want to grow the Cobia brand,” said Deal. “To do this, we’ll invest in new design and engineering, as well as increased manufacturing capacity. Ultimately, it is our intent to improve both the quality and availability of this much-in-demand brand.”
According to Deal, plans call for an expansion of its Fort Pierce operation to accommodate Cobia, along with the consideration of additional manufacturing facilities either inside or outside of Florida.
The Maverick Boat Company Inc. manufactures and markets the Maverick, Hewes and Pathfinder brands of saltwater fishing boats. The Cobia brand includes sport cabin, dual console, bay, walk-around and center console models.
Century Boats, which will celebrate its 80th anniversary in 2006, is a leading manufacturer of walk-around, center console and bay boats.
By: Walker Agency
