Business

Business

Malibu Boats Set to Acquire Cobalt Boats

07-Jul-2017

Malibu Boats recently announced that it has set the machinery in motion to acquire Cobalt Boats, a manufacturer and distributor for premium sterndrive and outboard boats. Malibu will purchase Cobalt for an aggregate price of roughly $130 million.

"This is an outstanding opportunity for Cobalt, our employees, and our dealer network. As our focus has always been on the long-term success of the company, Malibu brings us a new level of opportunity through accelerated growth and brand awareness,” says Cobalt's Chief Executive Officer Paxson St. Clair. “I look forward to working with the Malibu team and continuing our legacy of market leadership."

Cobalt Boats was founded in 1968 and today sells boats in the U.S., Canada and overseas. The manufacturer sells watersport boats, cruisers, bowriders and outboard boats for cruising, skiing, entertaining, surfing, fishing and more. 

For more information, visit investors.malibuboats.com.

Paul Gauguin Cruises