Brunswick Corporation announces the acquisition of Fliteboard
Brunswick Corporation acquires Fliteboard, a leader in eFoiling technology, to enhance electrification and shared-access strategies.
Positive
Acquisition of Fliteboard strengthens Brunswick's position in the emerging electric-foiling surfboard market.
Opportunity for technological, manufacturing, commercial, and consumer synergies with Brunswick's existing portfolio.
Fliteboard's brand appeal and advanced eFoiling technology align with Brunswick's ACES strategy.
Ability to engage with new customers and offer the entire portfolio of Brunswick products and services.
09/05/2023 - 06:00 AM
METTAWA, Ill., Sept. 05, 2023 (GLOBE NEWSWIRE) -- Brunswick Corporation (NYSE: BC) today announced the acquisition of Fliteboard, a leader in eFoiling technology, that will further enhance the Company’s industry-leading electrification and shared-access strategies. Fliteboard, which combines advanced hydrofoils and electric propulsion on the water, allows Brunswick to enter the emerging, electric-foiling surfboard market and presents the opportunity for technological, manufacturing, commercial, and consumer synergies with the existing Brunswick portfolio. Fliteboard will operate as a business within Mercury Marine.
“Fliteboard's exceptional brand appeal and its advanced eFoiling technology align with our ACES strategy, and we are excited to bring the Fliteboard team into the Brunswick family” said Dave Foulkes, Brunswick Corporation CEO. “Fliteboard will allow us to engage with a new wave of customers who will also have the ability to enjoy the entire portfolio of Brunswick products and services over time.”
“We have long respected Brunswick’s leadership position in the recreational marine market, and this announcement enables us to further enhance Fliteboard’s products and customer experience,” said David Trewern, founder, and CEO of Fliteboard. “This union of substantial resources including the growth opportunities within Brunswick with Fliteboard's ground-breaking ethos and designs will allow us to amplify our reach to new markets around the world.”
Fliteboard, established in 2016, has customers in more than 90 countries who enjoy its products in the Mediterranean and Caribbean, as well as the lakes and rivers of the U.S. and Europe, beaches of Australia, and waterways of Dubai. Fliteboard has won more than a dozen, major awards including a Red Dot Best of the Best award (for product design) and Good Design Gold Award, among others.
“Fliteboard’s dedication to inspire and enable the world to ‘Take Flite’ is a perfect fit for our Next Never Rests mentality,” said Foulkes. “We have an opportunity to scale manufacturing and distribution and, over time, begin aligning sub-systems with our Avator electric outboard product line as we attract a new generation to electric mobility on the water.”
Members of the media can access a Fliteboard photo and video gallery here: (LINK)
ABOUT BRUNSWICK
Brunswick Corporation (NYSE: BC) is the global leader in marine recreation, delivering innovation that transforms experiences on the water and beyond. Our unique, technology-driven solutions are informed and inspired by deep consumer insights and powered by our belief that “Next Never Rests™”. Brunswick is dedicated to industry leadership, to being the best and most trusted partner to our many customers, and to building synergies and ecosystems that enable us to challenge convention and define the future. Brunswick is home to more than 60 industry-leading brands. In the category of Marine Propulsion, these brands include, Mercury Marine, Mercury Racing and MerCruiser. Brunswick’s comprehensive collection of parts, accessories, distribution, and technology brands includes Mercury Parts & Accessories, Land ‘N’ Sea, Lowrance, Simrad, B&G, Mastervolt, RELiON, Attwood and Whale. Our boat brands are some of the best known in the world, including Boston Whaler, Lund, Sea Ray, Bayliner, Harris Pontoons, Princecraft and Quicksilver. Our service, digital and shared-access businesses include Freedom Boat Club, Boateka and a range of financing, insurance, and extended warranty businesses. While focused primarily on the marine industry, Brunswick also successfully leverages its portfolio of advanced technologies to deliver an exceptional suite of solutions in mobile and industrial applications. Headquartered in Mettawa, IL, Brunswick has more than 18,500 employees operating in 29 countries. In 2022, Brunswick was named by Forbes as a World’s Best Employer and as one of America’s Most Responsible Companies by Newsweek, both for the third consecutive year. For more information, visit Brunswick.com
ABOUT FLITEBOARD
Founded by David Trewern, Fliteboard is a leading pioneer in the eFoiling industry, transforming the way people experience water sports worldwide. Originating from Byron Bay, Australia, Fliteboard has been fusing innovative technology with sustainable practices since its inception, crafting a unique blend of thrill, tranquillity, and minimal environmental impact. The company's flagship product, the Fliteboard, has propelled it to global recognition, offering a seamless, motorized surfing experience over water without the need for waves. Fliteboard's unwavering commitment to excellence and innovation has continually set new standards in the eFoiling industry. As a brand, Fliteboard epitomizes performance, innovation, design and customer community. Fliteboard has a strong global presence, expanding the joy of eFoiling to enthusiasts across continents and oceans.
