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OneWater Marine Agrees To Buy Stone Harbor Marina For Undisclosed Sum

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  • Recreational boat retailer OneWater Marine Inc (NASDAQ: ONEW) has agreed to acquire the assets of Stone Harbor Marina, marine services provider based in New Jersey.

  • OneWater did not disclose the deal value or the terms of the acquisition.

  • The acquisition will enhance OneWater’s presence in the northeastern U.S. and expand new and pre-owned boat sales, storage, service and repair, and finance and insurance offerings.

  • The transaction is expected to complete in the fourth quarter of FY21.

  • Stone Harbor represents Pursuit, Everglades, Crownline, and Sportsman brands, while also offering factory-trained technicians to deliver quality service for its customers.

  • Stone Harbor’s sales amounted to about $35 million over the past twelve months.

  • “The addition of Stone Harbor Marina further highlights our winning acquisition strategy as we continue to opportunistically identify market-leading dealerships to fold into the organization,” said Austin Singleton, Chief Executive Officer, OneWater.

  • Price action: ONEW shares are closed lower by 3.88% at $42.6 on Monday.

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