GCM Buys Two Puerto Rico Marinas

Grand Caribbean Marinas, a Bacalia Group company, announced the consolidation of Isleta Marina and Blue Coast Boat Park in Puerto Rico. With this purchase, GCM will control over 3,000 slips between wet slips and dry storage, and has strengthened its position among the top five marina owners and operators, with the most slips in the United States.

The president and founder of Bacalia Group, Italian businessman Giuseppe Cicatelli, commented that these two operations are synergistic with the existing group of marinas. Isleta Marina has been in business for approximately 38 years and includes several facilities with 240 wet slips, a boatyard offering repair facilities, a slipway and travelift, as well as a sailmaker, a restaurant, and a marine store.

Despite the recession fears, the outlook for the nautical industry remains bright, and there is a continued interest in recreational boating.

Grand Caribbean Marinas reinforces its strong position in becoming a consolidator of marinas and plans to become a multi-state operator in the United States, over the medium term.