MasterCraft (NASDAQ: MCFT) closes Marine Products deal, adding Chaparral and Robalo brands

Rhea-AI Filing Summary

MasterCraft Boat Holdings, Inc. has completed its acquisition of Marine Products Corporation through a two-step merger, making Marine Products a wholly owned subsidiary. Marine Products shareholders received $2.43 in cash plus 0.232 shares of MasterCraft common stock for each Marine Products share, with cash paid in lieu of fractional MasterCraft shares. Marine Products stock has ceased trading on the NYSE. MasterCraft now controls a broader portfolio of recreational marine brands, including MasterCraft, Crest, Balise, Chaparral and Robalo, and has expanded its board from seven to ten directors, adding three directors from the Marine Products side under a Stockholders Agreement that also includes nomination, ownership threshold and standstill provisions for key former Marine Products stockholders.

Positive

• Transformative marine portfolio expansion: Completion of the Marine Products acquisition creates a diversified set of leading recreational boat brands, including MasterCraft, Crest, Balise, Chaparral and Robalo, broadening product reach across multiple boating categories and dealer networks.

Negative

• None.

Insights

M&A and corporate governance analyst

MasterCraft closes a strategic boat-maker acquisition with new governance ties.

MasterCraft completed its merger with Marine Products, paying each Marine Products shareholder $2.43 in cash plus 0.232 MasterCraft shares. Marine Products’ stock is delisted, and its operations and brands move under the MasterCraft umbrella.

The deal adds Chaparral and Robalo to MasterCraft’s existing portfolio and expands the board from seven to ten seats, with up to two director nominees tied to former Marine Products holders while they maintain at least 15% voting power. A Stockholders Agreement and Registration Rights Agreement formalize these rights.

MasterCraft has up to 71 days after closing to file pro forma financial information for the combined company. Within 120 days of closing, it may be required to register for resale MasterCraft securities held by specified former Marine Products investors under the Registration Rights Agreement.

8-K Event Classification

4 items: 2.01, 5.02, 7.01, 9.01

4 items

Item 2.01 Completion of Acquisition or Disposition of Assets Financial

The company completed a significant acquisition or sale of business assets.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Per-share cash consideration: $2.43 per share Share exchange ratio: 0.232 shares Resale registration deadline: 120 days +5 more

8 metrics

Per-share cash consideration $2.43 per share Cash portion paid for each Marine Products share

Share exchange ratio 0.232 shares MasterCraft shares issued per Marine Products share

Resale registration deadline 120 days Time after closing for potential resale registration for specified holders

Pro forma filing deadline 71 days Maximum time after closing to file pro forma financial information

Board size after merger 10 directors Board increased from seven to ten seats post-transaction

Nomination threshold 15% voting power Ownership level for specified stockholders to nominate two directors

Reduced nomination threshold 10% voting power Ownership level to nominate one Family Designee

Standstill outside date 2 years Maximum period from closing for standstill before earlier ownership-based termination

Key Terms

Merger Agreement, Stockholders Agreement, Registration Rights Agreement, standstill restrictions, +2 more

6 terms

Merger Agreement regulatory

"the Transactions contemplated by that certain Agreement and Plan of Merger, dated as of February 5, 2026"

A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.

Stockholders Agreement regulatory

"MasterCraft entered into a stockholders agreement (the “Stockholders Agreement”) with certain stockholders of Marine Products"

Registration Rights Agreement regulatory

"a registration rights agreement (the “Registration Rights Agreement”) with LOR, Inc."

A registration rights agreement is a contract that gives investors the option to have their ownership stakes officially registered with the government, making it easier to sell their shares later. This agreement matters because it provides investors with a clearer path to cash out their investments if they choose, offering more liquidity and confidence in their ability to sell their holdings when desired.

standstill restrictions financial

"the Specified Stockholders have agreed to certain voting commitments and standstill restrictions"

Standstill restrictions are agreements or legal limits that pause or limit certain actions by creditors, shareholders, or counterparties—such as demanding repayment, selling large blocks of shares, or launching takeover moves—for a set period. Like pressing a temporary pause button in a dispute or negotiation, they matter to investors because they affect liquidity, the timing of potential exits, and the balance of control and risk while parties work toward a resolution.

pro forma financial information financial

"The pro forma financial information required by this Item 9.01(b) will be filed by amendment"

Pro forma financial information are adjusted financial numbers that show how a company’s results might look after a specific event or after removing one-time items, like a cleaned-up or “what if” version of its earnings. Investors use these figures to compare performance, judge future profitability, or evaluate the impact of mergers, restructurings or large transactions, but they require scrutiny because adjustments can make results look rosier than standard accounting statements.

forward-looking statements regulatory

"This press release includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995)"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

Understanding 8-K Material Events →

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): May 15, 2026

MasterCraft Boat Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-37502		06-1571747
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)
100 Cherokee Cove Drive
Vonore, Tennessee				37885
(Address of principal executive offices)				(Zip Code)

Registrant’s telephone number, including area code: (423) 884-2221

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol		Name of exchange on which registered
Common Stock		MCFT		The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Introductory Note

On May 15, 2026 (the “Closing Date”), MasterCraft Boat Holdings, Inc., a Delaware corporation (“MasterCraft”), completed the transactions (the “Transactions”) contemplated by that certain Agreement and Plan of Merger, dated as of February 5, 2026 (the “Merger Agreement”), by and among MasterCraft, Titan Merger Sub 1, Inc., a Delaware corporation and a direct wholly owned subsidiary of MasterCraft (“Merger Sub 1”), Titan Merger Sub 2, LLC, a Delaware limited liability company and a direct wholly owned subsidiary of MasterCraft (“Merger Sub 2”), and Marine Products Corporation, a Delaware corporation (“Marine Products”), whereby (i) Merger Sub 1 merged with and into Marine Products (the “First Merger”), with Marine Products surviving the First Merger as a direct wholly owned subsidiary of MasterCraft, and (ii) immediately following the First Merger, Marine Products merged with and into Merger Sub 2 (the “Second Merger” and, together with the First Merger, the “Mergers”), with Merger Sub 2 surviving the Second Merger as a wholly owned subsidiary of MasterCraft.

Item 2.01 Completion of Acquisition or Disposition of Assets.

As described in the Introductory Note of this Current Report on Form 8-K, which is incorporated herein by reference, pursuant to the terms of the Merger Agreement, the Transactions were completed on the Closing Date. At the effective time of the First Merger (the “First Effective Time”), each share of Marine Products common stock issued and outstanding immediately prior to the First Effective Time, except for shares held by MasterCraft or Marine Products, or their direct or indirect subsidiaries was converted automatically into the right to receive (i) 0.232 shares of MasterCraft common stock and (ii) $2.43 in cash, without interest (the “Merger Consideration”). Merger Consideration was not paid with respect to (i) shares of Marine Products common stock directly owned by Marine Products, any subsidiary of Marine Products, MasterCraft, Merger Sub 1 or Merger Sub 2 immediately prior to First Merger, each of which was canceled upon the completion of the First Merger, (ii) dissenting shares, and (iii) certain Marine Products restricted stock awards that were awarded in 2026 and are held by employees who remain with the combined company. No fractional shares of MasterCraft common stock were issued in connection with the First Merger. The total number of shares that each of the Marine Products stockholders received in the First Merger were rounded down to the nearest whole number, and each Marine Products stockholder received cash payable in lieu of any fractional share of MasterCraft common stock to which they otherwise would have been entitled.

Additionally, concurrent with the execution of the Merger Agreement, on February 5, 2026, MasterCraft entered into a stockholders agreement (the “Stockholders Agreement”) with certain stockholders of Marine Products (the “Specified Stockholders”) and a registration rights agreement (the “Registration Rights Agreement”) with LOR, Inc., an entity affiliated with the Specified Stockholders, each of which is in effect as of the Closing Date.

The Stockholders Agreement provides for, among other things, certain transfer restrictions and governance arrangements. From the Closing Date and until the expiration date defined therein, the Specified Stockholders have the right to nominate up to two directors (one “Family Designee” (initially Timothy Rollins) and one “Independent Designee” (initially Callum Macgregor)) while the Specified Stockholders beneficially own at least 15% of the total voting power of the MasterCraft common stock, and one Family Designee while the Specified Stockholders beneficially own at least 10% but less than 15% of the total voting power of the MasterCraft common stock. Further, from the Closing Date until the earlier of (i) the second anniversary of the Closing Date and (ii) the date on which the Specified Stockholders cease to beneficially own, in the aggregate, at least 15% of the total voting power of the MasterCraft common stock (the “Standstill Termination Date”), the Specified Stockholders have agreed to certain voting commitments and standstill restrictions. The Stockholders Agreement terminates automatically upon the last to occur of the first anniversary of the Closing Date, the “expiration date” (defined by ownership thresholds) and the Standstill Termination Date.

The Registration Rights Agreement provides, among other things, LOR, Inc. and certain of its affiliates (collectively, the “Selling Stockholders”) and their permitted transferees the right to require, subject to certain conditions and limitations, MasterCraft to register for resale all MasterCraft securities held by such stockholders no later than 120 days following the Closing Date, and also provides customary piggy back registration rights with respect to registrations initiated by MasterCraft.

The foregoing summary of the Merger Agreement and Mergers, the Stockholders Agreement and the Registration Rights Agreement does not purport to be complete and is subject to, and is qualified in its entirety by, the full text of the Merger Agreement, the Stockholders Agreement and the Registration Rights Agreement which are filed as Exhibits 2.1, 10.1 and 10.2, respectively, and incorporated herein by reference.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

In accordance with the Merger Agreement and following the First Effective Time, MasterCraft’s board of directors (the “MasterCraft Board”) was increased from a total of seven directors to a total of ten directors, including two former members of the Marine Products board of directors. The three vacancies on the MasterCraft Board were filled by the addition of Mr. Rollins, Mr. Macgregor and Stephen E. Lewis (collectively, the “Director Designees”) to the MasterCraft Board, each of whom will hold office until their respective successors have been duly elected or appointed and qualified or until their earlier death, resignation or removal. Other than the Merger Agreement and the Stockholders Agreement, there are no arrangements between the Director Designees and any other person pursuant to which the Director Designees were selected as directors.

The information set forth in the Introductory Note and under Item 2.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 7.01 Regulation FD Disclosure.

On May 15, 2026, MasterCraft issued a press release announcing the completion of the Mergers. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall such information, including Exhibit 99.1, be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(b) The pro forma financial information required by this Item 9.01(b) will be filed by amendment to this Current Report no later than 71 days after the closing of the Transactions.

(d) The following exhibits are being filed as part of this Current Report.

Exhibit Number		Description
2.1		Agreement and Plan of Merger, dated as of February 5, 2026, by and among MasterCraft Boat Holdings, Inc., Titan Merger Sub 1, Inc., Titan Merger Sub 2, LLC, and Marine Products Corporation (incorporated by reference to Exhibit 2.1 of MasterCraft’s Form 8-K filed with the SEC on February 5, 2026)*
10.1		Stockholders Agreement, dated as of February 5, 2026, by and among MasterCraft Boat Holdings, Inc. and the stockholders identified in an exhibit thereto (incorporated by reference to Exhibit 10.2 of MasterCraft’s Form 8-K filed with the SEC on February 5, 2026)*
10.2		Registration Rights Agreement, dated as of February 5, 2026, by and among MasterCraft Boat Holdings, Inc. and LOR, Inc. (incorporated by reference to Exhibit 10.3 of MasterCraft’s Form 8-K filed with the SEC on February 5, 2026)*
99.1		Press Release of MasterCraft Boat Holdings, Inc. dated May 15, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

* All schedules and / or exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished to the SEC upon request.

Forward-Looking Statements

This Current Report on Form 8-K (this “Current Report”) includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can often be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,” “may,” “will,” “should,” “continue” and similar expressions and comparable terminology or the negative thereof.

Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to: (i) the anticipated financial performance of the combined company; (ii) the expected synergies and efficiencies to be achieved as a result of the Transactions; (iii) expectations regarding the diversification and complementary nature of brand portfolios; (iv) expectations regarding the complementary nature of dealer networks; (v) expectations regarding enhancements to the manufacturing platform and technological innovation; (vi) the financial profile and profitability of the combined company; (vii) expectations regarding cost savings; (viii) expectations regarding the combined company’s employees, vendors, dealers and manufacturing operations; and (ix) expectations regarding the realization of benefits of the Transactions and the timing associated with realization thereof. These and other important factors discussed under the caption “Risk Factors” in MasterCraft’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed with the SEC on August 27, 2025, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings made with the SEC, in each case could cause actual results to differ materially from those indicated by the forward-looking statements. The discussion of these risks is specifically incorporated by reference into this Current Report.

Any such forward-looking statements represent estimates as of the date of this Current Report. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this Current Report. MasterCraft undertakes no obligation (and expressly disclaims any obligation) to update or supplement any forward-looking statements that may become untrue or cause our views to change, whether because of new information, future events, changes in assumptions or otherwise. Comparisons of results for current and prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: May 15, 2026

MASTERCRAFT BOAT HOLDINGS, INC.
By:		/s/ W. Scott Kent
Name:		W. Scott Kent
Title:		Chief Financial Officer

Exhibit 99.1

MasterCraft Boat Holdings, Inc. Completes Acquisition of Marine Products Corporation,

Creating a Diversified Portfolio of Leading Recreational Marine Brands

VONORE, Tenn., May 15, 2026 — MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) (“MasterCraft”), a leading innovator, designer, and manufacturer of premium performance and leisure powerboats, today announced the successful completion of its previously announced acquisition of Marine Products Corporation (NYSE: MPX) (“Marine Products”), a leading manufacturer of recreation and sport fishing powerboats.

As previously announced, Marine Products shareholders received $2.43 per share in cash and 0.232 shares of MasterCraft common stock for each share of Marine Products they own. Marine Products common stock has ceased trading and will no longer be listed on the New York Stock Exchange.

This acquisition brings together two iconic recreational marine companies and creates a diversified portfolio of leading brands—MasterCraft, Crest, Balise, Chaparral, and Robalo—positioned to serve an expanded customer base across multiple high-quality boating categories. The combined company benefits from complementary coastal and inland dealer networks, enhanced scale, and a strengthened platform for innovation, product development, and operational excellence, supporting differentiated product offerings and future growth opportunities.

Brad Nelson, Chief Executive Officer of MasterCraft, said, “We are pleased to officially welcome Chaparral and Robalo to MasterCraft. This combination brings together highly complementary brands, talented teams, and strong dealer relationships that will enhance our ability to serve customers and drive long-term value. We are confident that the scale, reach and product offering of the combined company positions us well to meet the evolving needs of boating enthusiasts across multiple categories. We are excited about the opportunities ahead and look forward to this next chapter of growth for MasterCraft as we deliver on our commitment to innovation, quality, and operational excellence.”

Advisors

Wells Fargo acted as exclusive financial advisor to MasterCraft and King & Spalding LLP served as legal counsel. Joele Frank, Wilkinson Brimmer Katcher served as strategic communications advisor to MasterCraft.

About MasterCraft Boat Holdings, Inc.

Headquartered in Vonore, Tenn., MasterCraft Boat Holdings, Inc. is a leading innovator, designer, manufacturer and marketer of recreational powerboats through its five brands, MasterCraft, Chaparral, Robalo, Crest, and Balise. For more information about MasterCraft Boat Holdings, and its five brands, visit: Investors.MasterCraft.com, www.mastercraft.com, www.chaparralboats.com, www.robalo.com, www.CrestPontoonBoats.com, and www.BalisePontoonBoats.com.

Forward Looking Statements

This press release includes forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). Forward-looking statements can often be identified by such words and phrases as “believes,” “anticipates,” “expects,” “intends,” “estimates,” “may,” “will,” “should,” “continue” and similar expressions and comparable terminology or the negative thereof.

Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements, including, but not limited to: (i) the anticipated financial performance of the combined company; (ii) the expected synergies and efficiencies to be achieved as a result of the transactions; (iii) expectations regarding the diversification and complementary nature of brand portfolios; (iv) expectations regarding the complementary nature of dealer networks; (v) expectations regarding enhancements to the manufacturing platform and technological innovation; (vi) the financial profile and profitability of the combined company; (vii) expectations regarding cost savings; (viii) expectations regarding the combined company’s employees, vendors, dealers and manufacturing operations; and (ix) expectations regarding the realization of benefits of the transactions and the timing associated with realization thereof. These and other important factors discussed under the caption “Risk Factors” in MasterCraft’s Annual Report on Form 10-K for the fiscal year ended June 30, 2025, filed with the Securities and Exchange Commission (the “SEC”) on August 27, 2025, subsequent Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings made with the SEC could cause actual results to differ materially from those indicated by the forward-looking statements. The discussion of these risks is specifically incorporated by reference into this press release.

Any such forward-looking statements represent estimates as of the date of this press release. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date of this press release. MasterCraft undertakes no obligation (and expressly disclaims any obligation) to update or supplement any forward-looking statements that may become untrue or cause our views to change, whether because of new information, future events, changes in assumptions or otherwise. Comparisons of results for current and prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.

MasterCraft Contacts:

Investors

Alec Harmon

Senior Director of Strategy and Investor Relations

Email: investorrelations@mastercraft.com

Media

Mahmoud Siddig / Tim Lynch / Fouad Boutros

Joele Frank, Wilkinson Brimmer Katcher

212.355.4449

FAQ

What transaction did MasterCraft Boat Holdings (MCFT) complete with Marine Products?

MasterCraft completed a two-step merger acquiring Marine Products as a wholly owned subsidiary. The deal combines two recreational marine manufacturers, bringing Chaparral and Robalo under MasterCraft alongside its existing MasterCraft, Crest and Balise brands, and removes Marine Products from NYSE trading.

What did Marine Products shareholders receive in the MasterCraft (MCFT) acquisition?

Each Marine Products shareholder received $2.43 in cash plus 0.232 shares of MasterCraft common stock per share. No fractional MasterCraft shares were issued; cash was paid instead for any fractional share amounts after rounding down to the nearest whole share.

How does the Marine Products deal change MasterCraft’s (MCFT) board and governance?

MasterCraft’s board expanded from seven to ten directors, adding three Director Designees, including Timothy Rollins and Callum Macgregor. A Stockholders Agreement gives specified former Marine Products holders rights to nominate up to two directors while they hold at least 15% of MasterCraft’s total voting power.

What ownership thresholds affect nomination and standstill rights for MCFT stockholders?

Specified stockholders may nominate two directors while they beneficially own at least 15% of MasterCraft voting power, and one Family Designee while owning at least 10% but less than 15%. Standstill and voting commitments run until the earlier of two years after closing or losing the 15% threshold.

What registration rights were granted to former Marine Products investors in MCFT stock?

Under a Registration Rights Agreement, LOR, Inc. and certain affiliates can require MasterCraft to register for resale all MasterCraft securities they hold within 120 days of closing, subject to conditions, and also receive customary piggyback rights on future MasterCraft-initiated registrations.

Will MasterCraft (MCFT) provide pro forma financials for the Marine Products merger?

Yes. MasterCraft stated that the required pro forma financial information for the combined company will be filed by amendment no later than 71 days after the closing date of the Marine Products transaction, giving investors a consolidated financial view.

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 8.9 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 16.8 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 10.6 KB