Following our recent report of Fountain Powerboats' acquisition of certain Baja Marine assets from Brunswick in the May/June Issue of Boating Business, the sale is now final, resulting in a wholly owned subsidiary, Baja By Fountain, Inc.
“We are pleased to complete this transaction,” said Fountain Powerboat's founder and CEO Reggie Fountain Jr. “This action unites two brands within the powerboat segment, adding several popular models to our product portfolio, including the Outlaw, Performance and Islander model lineups.” Baja By Fountain expects to begin manufacturing the Baja line for the 2009 model year.
According to an 8-K form posted on the United States Securities and Exchange Commission's website, Fountain Powerboat Industries purchased Baja Marine's assets for US $4 million, which includes equipment, tooling, drawings, blueprints, design software and production process documentation required to build Baja models. Brunswick will retain assets related to other Baja models. The document further states that Brunswick will retain all warranty obligations for the boats it manufactured. However, Fountain will manufacture and sell parts to enable Brunswick to fulfill those obligations.
According to Fountain, Mercury Marine will continue to provide marine engines and other power components for Baja boats made by Fountain through a long-term agreement.