Florida-based boat manufacturer Correct Craft recently announced its acquisition of Parker Boats, a North Carolina maker of offshore and inshore fishing boats.
Correct Craft, whose brands include Nautique, Centurion, and Supreme, said the deal would allow the company to expand its product line and enter the saltwater boat market. Parker, meanwhile, would add production capacity, operational experience, and engineering capabilities.
Officials said Correct Craft intends to maintain Parkerâ€™s management team and its Beaufort, North Carolina manufacturing facility, which produces center consoles, sport cabins, walkarounds, and dual console boats.
Parker Boats President Linwood Parker said in a statement that the acquisition would enable the brand to meet dealersâ€™ current needs and â€śaggressively bring new product to market.â€ť
â€śLinwood Parker and his family have built an impressive business and brand with an outstanding team and we are excited about them joining Correct Craft,â€ť said Correct Craft President and CEO Bill Yeargin. â€śParker Boats will enter Correct Craft into a new segment of the marine industry with a compelling product line and brand.â€ť
Terms of the deal were not disclosed.
Image Credit: Correct Craft