Brunswick Corporation, the world’s largest maker of recreational boats, announced on Thursday that it had completed its acquisition of Lowe Boats, a leading manufacturer of aluminum fishing boats. The purchase price was $465 million in cash.
The acquisition gives Brunswick greater scale in the fishing boat market and expands its offerings in pontoon boats and other types of aluminum craft. It also adds about 1,700 dealers to Brunswick’s network.
Lowe Boats was founded in 1971 and is based in Lebanon, Missouri. It had sales last year of about $400 million. Its brands include Lowe, Bass Pro Shops Tracker Marine Group and Sea Nymph Fishing Boats.