~Completes Investment in Boatzon~
~Innovative Technology Driving New Customer Engagements~
~Leverages Capabilities for Strategic High Margin Growth~
MarineMax, Inc. (NYSE: HZO), the world’s largest recreational boat and yacht retailer, announced today that it has invested in Boatzon. Boatzon, is the first 100 percent online boat and marine retailer providing secure direct marketplace services.
Boatzon provides marine enthusiasts easy access to boats, engines, trailers, marine products and more. Consumers can browse, finance, insure, purchase and arrange delivery of boats and marine products entirely online. The first of its kind in the boating industry, the Boatzon marketplace offers buyers a new and innovative purchase experience while providing dealers with digital tools to expand offerings to their customers.
W. Brett McGill, Chief Executive Officer and President of MarineMax, stated, “We are excited to invest in Boatzon. The partnership aligns well with our higher margin business growth and diversification goals. It enhances our industry leading innovative technologies and digital tools. Boatzon advances the industry and complements our customer focused efforts to provide great experiences so boaters can enjoy time with family and friends on the water. We are pleased to welcome Bryan Lenett, Michael Muchnick and the entire Boatzon team as we lead the industry with the best products and services.”
Bryan Lenett, Boatzon’s CEO, commented, “Being avid boaters, as well as technology entrepreneurs, we realized that the marine industry lacked the online customer experiences many industries offer and consumers have come to expect. When we set out to develop Boatzon, we wanted to incorporate best in class technology for the marine industry to provide an experience that offers a dramatically different end-to-end customer experience. We could not think of a better partnership than with MarineMax, a pioneer in the industry, who continues to push the boundaries of the consumer experience.”
MarineMax is the world’s largest recreational boat and yacht retailer, selling new and used recreational boats, yachts and related marine products and services, as well as providing yacht brokerage and charter services. MarineMax has over 100 locations worldwide, including 79 retail dealership locations, which includes 31 marinas or storage operations. Through Fraser Yachts and Northrop and Johnson, the Company also is the largest superyacht services provider, operating locations across the globe. Cruisers Yachts, a MarineMax company, manufactures boats and yachts with sales through our select retail dealership locations and through independent dealers. Intrepid Powerboats, a MarineMax company, manufactures powerboats and sells through a direct-to-consumer model. MarineMax provides finance and insurance services through wholly owned subsidiaries and operates MarineMax Vacations in Tortola, British Virgin Islands. The Company also operates Boatyard, a pioneering digital platform that enhances the boating experience. MarineMax is a New York Stock Exchange-listed company (NYSE: HZO). For more information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the Boatzon investment being complementary to the Company's efforts to set itself apart from the industry and the Company's goal to extend its lead in the industry with the best products and services. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the Company’s abilities to reduce inventory, manage expenses and accomplish its goals and strategies, the quality of the new product offerings from the Company’s manufacturing partners, the impacts (direct and indirect) of COVID-19 on the Company’s business, the Company’s employees, the Company’s manufacturing partners, and the overall economy, general economic conditions, as well as those within our industry, the level of consumer spending, the Company’s ability to integrate acquisitions into existing operations, and numerous other factors identified in the Company’s Form 10-K for the fiscal year ended September 30, 2021 and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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Michael H. McLamb
Chief Financial Officer
Brad Cohen or Dawn Francfort