Garmin named 2025 IBBI Supplier of the Year

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Garmin (NYSE: GRMN) has been named the 2025 Supplier of the Year by Independent Boat Builders, Inc. (IBBI), marking its second consecutive year receiving this prestigious award. IBBI, the marine industry's largest purchasing cooperative representing 15 boat brands that produce over 25% of U.S. boat sales, awarded Garmin with a near-perfect 99% supplier score - the highest since the award's inception.

The recognition, presented on March 11, 2025, at IBBI's annual Supplier Conference in Orlando, marks Garmin's fourth time receiving this honor. The company's extensive marine electronics portfolio, including chartplotters, sonar technology, and autopilots, has served IBBI members for over a decade. This achievement follows Garmin's tenth consecutive year as National Marine Electronics Association's (NMEA) Manufacturer of the Year.

Positive

• Achieved highest-ever supplier score of 99% from IBBI
• Secured IBBI Supplier of the Year award for second consecutive year
• Services 25% of U.S. boat market through IBBI partnership
• Maintained industry leadership with 10th consecutive NMEA Manufacturer of the Year award

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• None.

Leading international boat builder group honors Garmin marine
for outstanding service and support for second year in a row

OLATHE, Kan., March 20, 2025 /PRNewswire/ -- Garmin (NYSE: GRMN), the world's most innovative and recognized marine electronics manufacturer, today announced it was awarded the prestigious Supplier of the Year distinction by Independent Boat Builders, Inc. (IBBI). The marine industry's largest purchasing cooperative, IBBI is comprised of a 15-owner network of leading boat brands that collectively build more than 25% of all boats sold in the U.S. Each year, IBBI recognizes one company that stands out among its all its suppliers for providing outstanding service, support and dedication to its owner network.

"Garmin is once again honored to be selected by the members of IBBI for the prestigious Supplier of the Year award. This award is a testament to our strong collaboration with IBBI and a shared commitment to providing best-in-class products, service and support to our mutual customers."
–Dave Dunn, Garmin Senior Director, Marine & RV Sales  

"IBBI members continue to be impressed by Garmin's commitment to operational excellence, unwavering focus on quality and relentless pursuit of innovation. This year, Garmin received the highest supplier score we've seen since the inception of this award – a near-perfect 99% – reaffirming them as a trusted and recognized manufacturer and worthy recipient of IBBI's highest honor."
–Tom Broy, IBBI Chief Executive Officer

For over a decade, IBBI members have benefitted from Garmin's extensive marine electronics portfolio that includes some of the industry's most sophisticated chartplotters and touchscreen multifunction displays, sonar technology, audio entertainment solutions, high-definition radar, autopilots, mapping, and other products and services that are known for innovation, reliability and ease-of-use.

IBBI presented the award to Garmin on March 11 at its annual Supplier Conference in Orlando, Fla. This is the fourth time Garmin has been named Supplier of the Year from IBBI.      

Engineered on the inside for life on the outside, Garmin products have revolutionized life for anglers, sailors, mariners and boat enthusiasts everywhere. Committed to developing the most innovative, highest quality, and easiest to use marine electronics the industry has ever known, Garmin believes every day is an opportunity to innovate and a chance to beat yesterday. For the tenth consecutive year, Garmin was named the Manufacturer of the Year by the National Marine Electronics Association (NMEA). Visit the Garmin's Newsroom, email our press team, connect with @garminmarine or follow our blog for more information.

About Garmin International, Inc. Garmin International, Inc. is a subsidiary of Garmin Ltd. (NYSE: GRMN). Garmin Ltd. is incorporated in Switzerland, and its principal subsidiaries are located in the United States, Taiwan and the United Kingdom. Garmin is a registered trademarks of Garmin Ltd. or its subsidiaries. All other brands, product names, company names, trademarks and service marks are the properties of their respective owners. All rights reserved.

Notice on Forward-Looking Statements:
This release includes forward-looking statements regarding Garmin Ltd. and its business. Such statements are based on management's current expectations. The forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially as a result of known and unknown risk factors and uncertainties affecting Garmin, including, but not limited to, the risk factors listed in the Annual Report on Form 10-K for the year ended December 28, 2024, filed by Garmin with the Securities and Exchange Commission (Commission file number 0-31983). A copy of such Form 10-K is available at www.garmin.com/en-US/company/investors/earnings/. No forward-looking statement can be guaranteed. Forward-looking statements speak only as of the date on which they are made and Garmin undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

MEDIA CONTACT: 
Carly Hysell
913-397-8200
media.relations@garmin.com

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SOURCE Garmin International, Inc.

FAQ

What score did Garmin (GRMN) receive in the 2025 IBBI supplier evaluation?

Garmin received a near-perfect 99% supplier score, the highest score ever recorded since the inception of IBBI's Supplier of the Year award.

How many times has Garmin (GRMN) won the IBBI Supplier of the Year award?

Garmin has won the IBBI Supplier of the Year award four times, including the 2024 and 2025 awards.

What percentage of U.S. boat sales does IBBI represent for Garmin (GRMN)?

IBBI's 15-owner network collectively builds more than 25% of all boats sold in the United States.

When did Garmin (GRMN) receive the 2025 IBBI Supplier award?

Garmin received the award on March 11, 2025, at IBBI's annual Supplier Conference in Orlando, Florida.

How many consecutive years has Garmin (GRMN) been named NMEA Manufacturer of the Year?

Garmin has been named the Manufacturer of the Year by the National Marine Electronics Association (NMEA) for ten consecutive years.