Soundings TradeOnlyToday Magazine
Brunswick Corp. said it acquired the assets of Payne’s Marine Group of Victoria, British Columbia, a wholesale distributor of marine parts and accessories in Canada. Terms of the transaction were not disclosed.
Payne’s had sales of about $17 million in 2015. Payne’s marine distribution business will become part of Brunswick’s global P&A distribution business, which is operated by Brunswick’s Mercury Marine division, based in Fond du Lac, Wis.
With distribution facilities in British Columbia and Ontario, Payne’s Marine provides broad geographic coverage as well as timely delivery services, technical expertise and support to customers across Canada.
It will be integrated into Mercury Marine’s P&A distribution network in Canada, augmenting the presence of Mercury’s Land ‘N’ Sea Canadian channels — particularly in western Canada, where Mercury Marine has made other recent investments, such as a new distribution center in Langley, British Columbia.
“The two companies together will extend both the reach and value of our global P&A distribution network,” Mercury Marine President John Pfeifer said in a statement. “Further, we believe leveraging the unique expertise of each operation will lead not only to cost and revenue synergies, but also will further accelerate our growth in the important Canadian marine market.”
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Originally published here.