Winnebago Industries Enhances Portfolio With Acquisition of Chris-Craft From Stellican
With a brand heritage that dates back to 1874, Chris-Craft is an industry leader in recreational boating craftsmanship and quality. The business is poised to leverage its strong brand reputation and drive future growth through the introduction of new models and product lines, category extension opportunities supported by increased production capacity and expanded dealer reach.
“Chris-Craft is an iconic, premium brand that shares many similarities with our own heritage Winnebago brand, including a commitment to providing customers with the highest quality products and services,” said
Mr. Happe continued, “Importantly, this acquisition aligns with our strategic initiative to further diversify
“I am delighted that Chris-Craft has found an ideal partner in
Chris-Craft President,
Transaction Details
- Chris-Craft is expected to be immediately accretive to Winnebago’s Fiscal 2019 EPS.
Stephen Heese will continue to lead the Chris-Craft business as its President.- Winnebago expects to maintain Chris-Craft’s
Sarasota, Florida headquarters. - Chris-Craft will operate as a distinct business unit within a new “Other” operating segment.
A slide presentation providing information about the acquisition is available on the Investor Relations page of the Company’s website at http://investor.wgo.net.
Baird acted as financial advisor to
About
About Chris-Craft
Chris-Craft, America's Boat Builder Since 1874, leads the industry in craftsmanship and quality which represents the company's enduring devotion to its proud past. The company is renowned for its classic designs, craftsmanship and use of premium materials. Chris-Craft is headquartered in
About
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve potential risks and uncertainties. Potential risks and uncertainties include the Company’s ability to achieve the expected financial results for the acquisition, the ability to recognize expected synergies and factors that may affect the Company’s plans for operating the acquired business. A number of factors could cause actual results to differ materially from the forward-looking statements, including, but not limited to increases in interest rates, availability of credit, low consumer confidence, availability of labor, significant increase in repurchase obligations, inadequate liquidity or capital resources, availability and price of fuel, a slowdown in the economy, increased material and component costs, availability of chassis and other key component parts, sales order cancellations, slower than anticipated sales of new or existing products, new product introductions by competitors, the effect of global tensions, integration of operations relating to mergers and acquisitions activities, business interruptions, any unexpected expenses related to ERP, risks related to compliance with debt covenants and leverage ratios, and other factors. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the
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