MarineMax "announced the formation of New Wave Innovations, a new business that will invest in and grow technology-related products and services. Boatyard, which was previously acquired and recently recognized as a top innovative company, and Boatzon will fall under this new entity. MarineMax announced that it has entered into a definitive agreement to acquire the remaining seventy-five percent interest in Boatzon, that it does not already own. The closing is expected in the Company’s fiscal second quarter ending March 31, 2023. Boatzon is the first 100 percent online boat and marine retailer providing secure direct marketplace services. Since making its initial investment in Boatzon in December 2021, MarineMax has been partnering with the Boatzon team to grow product capabilities and expand service offerings, serving both customers and marine dealers. As the partnership and Boatzon business have grown, the two companies are now teaming up to accelerate growth opportunities. Boatzon will operate as an independent company managed by co-founders Bryan Lenett, Michael Muchnick, and their team."
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HZO: