Brunswick Acquires Freedom Boat ClubPublished on May 17, 2019
To help expand its presence and scale within the boat club segment, Brunswick Corporation has entered into an agreement to acquire Freedom Boat Club (FBC). Terms of the transaction were not disclosed.
Founded in 1989, Freedom Boat Club and its franchisees service more than 20,000 members, providing them with access to a fleet of nearly 2,200 boats at approximately 170 company-owned or franchised locations across 30 states, Canada and Europe.
“As the leader in the boat club segment, Freedom offers both immediate scale and an established marketplace presence and expertise,” David M. Foulkes, Brunswick CEO said. “Importantly, FBC strengthens our ability to benefit from the growth in the broader sharing economy and exposes a wider range of consumers to the boating lifestyle. The growth of the marine industry depends on increasing the number of active boating participants and ensuring that they have a great experience on the water,” Foulkes said.
Following the completion of the transaction, FBC will become part of Brunswick’s Business Acceleration group, which includes Brunswick’s Boating Service Network (BSN). Through BSN, Brunswick has participated in the boat club and rental market since 2014, establishing a series of partnerships and pilot operations with both select dealers and marina operators.
John Giglio and his management team will continue to lead Freedom Boat Club. Over the last five years, FBC has nearly doubled its location footprint and tripled its membership base.
“We’re very excited to join Brunswick,” Giglio said. “Our knowledge and experience of the growing boat club industry, combined with Brunswick’s leading marine resources, will provide FBC and its franchise partners with many new opportunities to accelerate growth and create value, while enhancing the best-in-class boating experience we aim to provide our members.”