Brunswick buys Rayglass

by Powerboat-world on 15 Sep 2007 New Zealand's largest boat manufacturer, Rayglass, has been acquired by the USA and the world’s largest recreational boat builder Brunswick.

Brunswick bought 49 per cent of Rayglass, in 2003 and Rayglass' managing director, Tony Hembrow has now confirmed Brunswick is buying the remaining 51 per cent of the company taking its ownership to 100%.

Hembrow declined to comment on the sale price, rumoured to be $31 million, citing a confidentiality agreement he had signed.

Hembrow said ‘The company's 100 staff in Hamilton and Auckland had been assured Brunswick had big plans to continue to grow the business. He said ‘the deal would continue to benefit other local businesses that enjoyed spin-offs from Rayglass' success.’

Rayglass exports its fibreglass runabouts and inflatables, including the flagship Protector RIB to 17 countries. From one boat a month in 1988, Rayglass is now building almost four hundred boats a year for local and export markets.

Brunswick is the biggest boat manufacturer in the world. Its brands include Bayliner, Sea Ray, Hatteras, Boston Whaler, Maxum, Sea Boss and Trophy, sold through a global network of about 2300 dealers and distributors.

Brunswick bought another New Zealand marine industry company, navigation technology company Navman, in 2004 for $108 million, dramatically reduced staff numbers and sold its various divisions in 2007.