MarineMax To Acquire Intrepid Powerboats For Undisclosed Sum

by Shivani Kumaresan, Benzinga Staff Writer

October 5, 2021 10:48 AM | 1 min read

Recreational boat and yacht retailer MarineMax Inc HZO has agreed to acquire Intrepid Powerboats for an undisclosed sum.
Florida-based Intrepid, a producer of customized boats, follows a direct-to-consumer distribution model and generated revenue of about $60 million in the last twelve months.
MarineMax expects to close the deal before December 31, 2021, and to be accretive in its first full twelve-month period.
MarineMax held $200.1 million in cash and equivalents as of June 30, 2021.
Price Action: HZO shares are trading higher by 1.64% at $51.44 on the last check Tuesday.