Tuesday, May 28, 2024
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OneWater to acquire Garden State Yacht Sales

OneWater Marine has signed a definitive agreement to acquire Garden State Yacht Sales, further expanding the company’s presence in the Mid-Atlantic US.

Under the terms of the agreement, OneWater will acquire the net assets of the operation, including inventory.

Garden State generated approximately $14.0 million in sales in 2023.

“We continue to execute our strategic growth objectives with the addition of Garden State Yacht Sales, a premium dealership and marina location,” said Austin Singleton, CEO for OneWater.

“With minimal capital outlay, we look forward to leveraging our proven integration playbook to capitalise on the compelling upside potential of this acquisition.

“Garden State’s prime location complements our position in the Mid-Atlantic US as we continue to build our footprint and suite of offerings in this attractive boating market.”

He added: “While the opportunities have been plentiful in the current market environment, we remain opportunistic, yet disciplined in our approach to M&A.”

Garden State Yacht Sales is a full-service marina and boat dealer located in Point Pleasant Beach, NJ.

Services offered include maintenance and repair, winterisation, and storage.

OneWater has 95 retail locations, ten distribution centres and warehouses and several online marketplaces in 18 different states.

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