Sydney, Australia, August 1, 2019 – BRP (TSX:DOO; NASDAQ:DOOO), announced today the completion of the previously announced acquisition of 80% of the outstanding shares of Telwater Pty, Ltd ("Telwater"), Australia's leading manufacturer of aluminum boats and trailers.
As BRP’s third boat acquisition, Telwater’s addition to the Marine Group is another step in helping BRP to expand into new markets with the objective of transforming the marine industry as it did for powersports.
"We are extremely pleased to welcome Telwater employees in the BRP family. This is our first acquisition for the Marine Group outside the United States and Australia couldn’t have been a better choice. We are already well-established in Australia as we have been doing business there since 1960 and have had a long relationship with Telwater already. Bringing Telwater onboard is a chance for us to deepen our roots and strengthen our presence locally," said José Boisjoli, President and CEO of BRP.
"The Telwater commitment to excellence and its reputation for reliability complement perfectly BRP’s state-of-the-art manufacturing expertise and innovation," the media release says. "This acquisition brings the BRP Marine Group one step closer in its quest to becoming a leader in the boating industry, building and integrating boats and engines to give consumers an unparalleled experience on the water."
The company is a global leader in the world of powersports vehicles, propulsion systems and boats. Their portfolio includes Ski-Doo and Lynx snowmobiles, Sea-Doo watercraft, Can-Am on- and off-road vehicles, Alumacraft and Manitou boats, Evinrude and Rotax marine propulsion systems as well as Rotax engines for karts, motorcycles and recreational aircraft. With annual sales of CA$5.2 billion from over 120 countries, the global workforce is made up of approximately 12,500 people.