Winnebago Industries (NYSE:WGO) acquired Chris-Craft from Stellican Ltd., which has owned Chris-Craft since 2001.
Terms of the transaction were not disclosed.
Chris-Craft will operate as a distinct business unit within a new “Other” operating segment.
Winnebago Industries President and Chief Executive Officer, Michael Happe said, “The company’s strong brand, high-quality product line and premium position in the marine market make Chris-Craft an attractive addition to our portfolio. Chris-Craft marks Winnebago’s first entry into the marine market, which we believe has significant runway for growth, with a large and increasing population of current and new boaters who enjoy extraordinary experiences on the water.”
The acquisition is expected to be immediately accretive to FY2019 EPS.
Stephen Heese will continue to lead the Chris-Craft business as its President.
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