NetworkNewsWire Editorial Coverage: With the global economy booming, the wealthy are making the most of their earnings by buying boats.
- Yacht sales are rising, with both new and pre-owned yachts in high demand.
- This trend is creating a boom for associated services such as brokerages, consultancies, financing, aftermarket extended warranties, and trailer manufacturers.
- Other boat-building businesses are also profiting, including yacht charters, boat rental clubs and other sea-based leisure activities that offer people a break from everyday life.
Savvy companies in the boating and yacht industry are recognizing these unparalleled opportunities and exploring ways to position themselves to make the most of them. Victory Marine Holdings Corp. (OTC: VMHG) (VMHG Profile) has expanded its brokerage team and is looking into commissioning specially designed boats. America’s largest retailer of yachts and recreational boats, MarineMax, Inc. (NYSE: HZO), is expanding through the acquisition of companies in the northeast. Malibu Boats, Inc. (NASDAQ: MBUU) is maintaining its edge as a manufacturer through state-of-the-art design and new technology, including its award-winning docking trailer camera, as well as its latest acquisition of Pursuit Boats based in Ft. Pierce, Florida, for a sum of $100 million. The sale of a wide range of pleasure boats has led to financial dividends for Marine Products Corp. (NYSE: MPX). And Brunswick Corp. (NYSE: BC) has incorporated boats into a wider set of…
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