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Started By
Message
Is this the end for Nautic Star boats?
Posted on 8/13/22 at 1:38 pm
Posted on 8/13/22 at 1:38 pm
quote:
While the Board considers alternatives for NauticStar, the NauticStar business is expected to be accounted for as discontinued operations under GAAP beginning in the Company’s fiscal first quarter of 2023. The Company is reaffirming its outlook for the full year fiscal 2022 previously provided on May 11, 2022. Additional detail will be provided on the Company’s fourth quarter and full year 2022 conference call.
LINK
2
Posted on 8/13/22 at 1:50 pm to Mister Bigfish
Interesting that a company would be trying to exit that market right now.
Posted on 8/13/22 at 1:59 pm to Mister Bigfish
They just went through a complete rebranding and new marketing program for 2023. It's not going away anytime soon, they're selling every boat they can build. Buyer is going through due diligence currently and should be final soon. An influx of cash and improved processes will be a good thing for the brand.
Posted on 8/13/22 at 2:48 pm to WilsonPickett
Who is buying? Maverick?
Posted on 8/13/22 at 3:40 pm to WilsonPickett
quote:
improved processes will be a good thing for the brand
I have heard that before and it didn’t work out great.
Posted on 9/11/22 at 9:06 pm to Purple Spoon
MasterCraft Boat Holdings, Inc. has announced that its NauticStar business was acquired by a subsidiary of Iconic Marine Group. Iconic Marine Group assumed substantially all liabilities related to the NauticStar business and intends to continue operating the NauticStar business as usual.
LINK
I’m sure most have heard by now.
LINK
I’m sure most have heard by now.
Posted on 9/13/22 at 7:44 am to WilsonPickett
Mastercraft is run by complete idiots. They alienated the family who sold them Nauticstar and the family responded by opening up Avid Boats right next door.
Not hard to see the connection between employees choosing to work for their former employer over the corporate drones and the inability of Nauticstar to increase production and take advantage of the best boat selling market in history.
Iconic bought Fountain/Donzi etc and the owner seems to be doing a good job with them, buying a production builder should be a good move for them, based on the financial release it says they assumed liabilities and MC wrote off roughly $24 million. MC bought Nauticstar for $80mil several years ago.
Not hard to see the connection between employees choosing to work for their former employer over the corporate drones and the inability of Nauticstar to increase production and take advantage of the best boat selling market in history.
Iconic bought Fountain/Donzi etc and the owner seems to be doing a good job with them, buying a production builder should be a good move for them, based on the financial release it says they assumed liabilities and MC wrote off roughly $24 million. MC bought Nauticstar for $80mil several years ago.
This post was edited on 9/13/22 at 7:45 am
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