Brunswick buys Princecraft
According to Boating International, Princecraft, Canada's largest boat manufacturer, will become part of the
Brunswick Boat Group and will continue to be based in Princeville.
Brunswick Chairman and Chief Executive Officer George W. Buckley said that work will begin immediately to bring the plant back on line following its closure in December due to OMC's bankruptcy filing.
"This is a wonderful opportunity to add to our formidable stable of boat brands," said Buckley. "With a tradition that extends back more than 45 years, Princecraft has long been recognized for its quality and innovation, characteristics that are highly prized by Brunswick."
Princecraft makes an extensive line of aluminum pontoon, deck and fishing boats.
"This purchase will extend the Brunswick Boat Group's presence in this important international market, as well as its participation in certain market segments," Buckley said. "We also look forward to inviting Princecraft's skilled and able work force to join Brunswick."
Princecraft, founded in 1954, had about 220 production workers on an extended layoff since December, but the company's 30-person office staff remained working throughout, company officials confirmed.
Headquartered in Lake Forest, Illinois, Brunswick is a marketer and manufacturer of leading consumer brands including Mercury and Mariner outboard engines; Mercury MerCruiser sterndrives and inboard engines; Sea Ray, Bayliner and Maxum pleasure boats; Baja high-performance boats; and Boston Whaler and Trophy offshore fishing boats.