Garelick Mfg. Co.
FOR IMMEDIATE RELEASE
LAKE FOREST, IL, Nov. 09, 2015 (GLOBE NEWSWIRE) – Brunswick Corporation (NYSE: BC) announced today that it has added Garelick Mfg. Co., a leading maker of premium seat, table hardware and other items, to Brunswick’s growing marine parts and accessories business. Terms of the transaction were not disclosed. Garelick had annual sales of approximately $21 million in 2014.
Garelick is based in St. Paul Park, MN, and markets products under its respected namesake brand, as well as the well-known “EEz®-In” mark. Garelick’s product portfolio includes upholstered seating, table hardware, marine boarding ladders, boat hooks, and outboard motor brackets. Garelick will operate as part of the Mercury Marine’s Attwood Marine Products Division.
“Garelick is the leading brand name in premium seat and table hardware,” explained Brunswick President and Chief Operating Officer Mark Schwabero. “It has a diverse portfolio of market-leading products that are complementary to Attwood, with limited overlap. We believe it is a very good fit, providing an opportunity to expand Mercury’s P&A products business. Further, this action aligns with Brunswick’s P&A expansion strategy, an arena that offers us good opportunity to grow and prosper.”
In recent months, Brunswick has added Whale, a leading European parts and accessories product manufacturer for both of the marine and recreational vehicle industries, as well as P&A distributors Bell Recreational Products Group in the Midwestern U.S., and BLA in Australia.
Along with adding depth and breadth to Mercury Marine’s growing P&A product portfolio, Schwabero notes that Garelick products should benefit from Mercury’s global distribution operations, which offer same-day or next-day delivery throughout most of the scope of its operations as well as boat builder relationships.
Brunswick Chairman and Chief Executive Officer Dusty McCoy noted that the parts and accessories business continues to grow in scope and importance to Brunswick and over the past few years has helped reduce the cyclicality of the Company’s portfolio. For example, Mercury Marine’s P&A businesses, along with the Brunswick Fitness Segment, now comprise approximately 45 percent of the Corporation’s annual revenue.
Headquartered in Lake Forest, IL, Brunswick Corporation endeavors to instill “Genuine Ingenuity” (TM) in all its leading consumer brands, including Mercury and Mariner outboard engines; Mercury MerCruiser Sterndrives and inboard engines; MotorGuide trolling motors; Attwood, Garelick and Whale marine parts and accessories; Land ‘N’ Sea, Kellogg Marine, Diversified Marine, BLA and Bell RPG parts and accessories distributors; Bayliner, Boston Whaler, Brunswick Commercial and Government Products, Crestliner, Cypress Cay, Harris, Lowe, Lund, Meridian, Princecraft, Quicksilver, Rayglass, Sea Ray and Uttern boats, and Life Fitness, Hammer Strength and SCIFIT fitness equipment, and Brunswick billiards tables, accessories and game room furniture and InMovement products and services for productive well-being. For more information, visit http://www.brunswick.com.