• Home
  • News
    • Politics & Government
    • Business & Economy
    • Crime / Courts
    • Health / Medicine
  • Sports
    • High School Sports
    • Radio Iowa Poll
  • Affiliates
    • Affiliate Support Page
  • Contact Us
    • Reporters

Radio Iowa

Iowa's Radio News Network

You are here: Home / Business / Iowa-based Winnebago buys premium pontoon boat maker Barletta

Iowa-based Winnebago buys premium pontoon boat maker Barletta

July 20, 2021 By Radio Iowa Contributor

Officials with Forest City-based outdoor lifestyle product manufacturer Winnebago Industries announced today they’ve reached an agreement to acquire Barletta Pontoon Boats.

Winnebago CEO Michael Happe says Barletta is the industry’s fastest-growing premium boat manufacturer, since it was founded in 2017.

“What is particularly exciting about Barletta Boats is the combination of their youth, their success to date, the talent they’ve acquired and the opportunities in front of them,” Happe says. “We believe there are multiple growth avenues. Product line expansion is one. They have a very solid product line today with the three different series of pontoon boats. We know they have great vision to expand that product line in the future.”

Happe says there’s potential growth in pontoon boat sales.

“We believe the secular popularity of this particular category, including popularity of this category that is increasing in some untraditional places, i.e. the Western U.S. but also some of the inland waters near some saltwater bodies, means that there’s great potential to expand the overall presence of the category as well,” he says.

Happe says Barletta has positioned itself to rise in the pontoon boat industry.

“From a market share perspective, while they are #9 today, we believe we have signed a purchase agreement with a company that can be a top three market share performer in the pontoon segment in the future,” he says. “That will take some time and some hard work against some formidable competitors, but we believe the market share potential with this particular brand is material.”

It’s the second marine company that Winnebago has acquired in the last four years as the company purchased Chris-Craft Boats in 2018.

The agreement is for an initial consideration of $255 million in cash and newly-issued Winnebago stock shares, plus up to $15 million in Winnebago shares upon the achievement of performance milestones at the end of the calendar year.

(Bob Fisher, KRIB, Mason City)

Share this:

  • Facebook
  • Twitter

Filed Under: Business, News, Recreation / Entertainment

Featured Stories

Governor signs child care expansion into law

Iowa seniors have until July 1 to apply for new property tax break

Smoke from distant fires creates colorful sunrise in Iowa

DOT’s Motor Vehicle Enforcement Division to merge into State Patrol

Iowa’s governor approves liability limits for trucking industry

TwitterFacebook
Tweets by RadioIowa

Radio Iowa/Baseball Coaches Association High School Poll 5/29/23

Iowa AD Gary Barta announces retirement

Iowa to visit Creighton in Gavitt Tipoff Games

Iowa and Indiana collide Thursday at B1G baseball tournament

Former Hawkeye joins Lisa Bluder’s staff at Iowa

More Sports

Archives

Copyright © 2023 · Learfield News & Ag, LLC