CLEARWATER — To help it expand in the Northeast, MarineMax has acquired Bassett Marine LLC's retail sales and operations in Westbrook, Conn., and Warwick, R.I. In addition, the company added western Massachusetts to its territory for Sea Ray products.
Terms of the deal were not disclosed, but the acquisition will increase MarineMax's store locations to 55, the company says in a release. The new markets are contiguous with its New York and Connecticut markets, the company says.
“The New England region has long been a target area of expansion for our company,” says William McGill Jr., chairman, president and CEO of MarineMax, in a release. “It represents one of the wealthiest areas of the country and has a deep appreciation and affinity for boating.”
Bassett Marine, a family-run company, has been selling boats in the Northeast since 1945. The company has three sales and service centers, of which two were included in the acquisition. The firm has an additional location in Springfield, Mass.
Clearwater-based MarineMax is the nation's largest recreational boat and yacht retailer, with operations in 19 states. The company is publicly traded, (symbol: HZO, recent price: $8.08).