Mastercraft Completes Purchase of Marine Products Corp.

MasterCraft has confirmed it has finalized its acquisition of Marine Products Corp., bringing the Chaparral Boats and Robalo Boats brands under the same corporate umbrella as MasterCraft, Crest Pontoons, and Balise Pontoons.

The agreement, valued at approximately $232 million was first announced in February. Mastercraft stated they viewed the acquisition as a strategic expansion for diversifying beyond their traditional towboat segment. The purchase would give them access to the broader sterndrive, outboard, and coastal fishing markets through the Chaparral and Robalo brands and their established dealer networks.

“This combination brings together highly complementary brands, talented teams, and strong dealer relationships,” said MasterCraft CEO Brad Nelson in February.

With the transaction now closed, Marine Products shareholders received $2.43 per share in cash along with 0.232 shares of MasterCraft common stock for each MPX share held. Marine Products stock has ceased trading on the New York Stock Exchange following the completion of the merger.

The combined company now spans multiple recreational boating categories, from wake and surf boats to pontoons, sterndrives, and offshore fishing models. The acquisition also gives Mastercraft a broader portfolio for strengthening their dealer footprint across inland and coastal markets. Mastercraft will continue to be headquartered in Vonore, Tennessee, while Chaparral and Robalo operations will remain in Nashville, Georgia. The combined entity will continue operating under the MasterCraft Boat Holdings name and remain listed on the NASDAQ under the ticker MCFT.

MasterCraft CEO Brad Nelson will lead the combined company as chief executive officer, and Scott Kent will continue as chief financial officer. MasterCraft’s board of directors will expand from seven to 10 members, adding three new directors. Roch Lambert will serve as chair of the combined company’s board.

“We are pleased to officially welcome Chaparral and Robalo to MasterCraft," said Nelson in a press release. "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.”

For existing Chaparral and Robalo dealers, the completion of the transaction is expected to maintain business continuity in the short term and operations will continue as they did before.

With five major recreational marine brands now operating under its roof, MasterCraft has effectively grown from a niche towboat specialist into a diversified marine manufacturer with reach across multiple boating categories and customer demographics. #news #mastercraft #robalo #chapparal