BRP signs deals to sell bulk of boat business in drive toward pure-play powersports
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Hey there, time traveller!
This article was published 01/04/2025 (536 days ago), so information in it may no longer be current.
MONTREAL – BRP Inc. has signed a pair of deals to sell the bulk of its boat business, as the Ski-Doo maker continues its push to become a pure-play powersports company.
On Tuesday morning, BRP announced an agreement to sell Telwater, Australia’s biggest manufacturer of aluminum boats, to a subsidiary of Japan’s Yamaha Motor Co.
Later that afternoon, it said it had reached a deal to sell aluminum fishing boat maker Alumacraft to British Columbia’s Bryton Marine Group.
That leaves Triton Industries, which builds Manitou pontoon boats, as the only part of BRP’s erstwhile marine segment still up for grabs. The Quebec-based company announced in October it would look to sell the business as it doubled down on off-road vehicles, snowmobiles, personal watercraft — separate from the boat group — and three-wheeled motorcycles.
The sales could hardly come soon enough, after the three boat outfits drained $275.7 million from BRP’s coffers last year, driving it to a net loss in two of its last four quarters.
Financial terms of the agreements were not immediately available.
Yamaha’s purchase of Telwater is expected to be completed by the end of BRP’s second quarter, which is July 31. Bryton, which describes itself as the continent’s “largest privately owned welded aluminum boat builder,” will likely wrap up its Alumacraft acquisition by the end of the first quarter.
“The family-owned Bryton Marine Group has been in business for decades and we believe that their core values and culture will enable Alumacraft employees to unlock the full potential of the business,” said BRP CEO José Boisjoli in a release.
BRP acquired Minnesota-based Alumacraft and Michigan-based Triton Industries in 2018 for $81 million and $97 million, respectively.
It bought 80 per cent of Telwater, whose 300 employees churn out boats under the Quintrex, Stacer and Savage brands, in 2019 for $113 million, snapping up the remaining slice in 2021.
The sales are subject to customary closing conditions, including regulatory approval, BRP said.
This report by The Canadian Press was first published April 1, 2025.
Companies in this story: (TSX:DOO)