![]() for $45 million, it also received a warrant to buy 1.6 million shares of CML common stock. When Reebok bought Boston Whaler from CML Group Inc. The purchase would make MacAndrews the fourth largest boat seller in the country behind Brunswick Corp., Genmar Industries Inc. It will combine them with O'Brien water skis and Boston Whaler to make a new sports equipment group, the company said. ![]() MacAndrews will attempt to turn Boston Whaler into a profit-maker by capitalizing on the two other boating brands that the holding firm already owns, MasterCraft and Skeeter. "Our whole industry has taken a bath for the last three years," said Richard Porter, editor of Boating Industry magazine in New York. Reebok originally purchased Boston Whaler in 1988 to diversify and prepare for industry gains by Nike Inc., which since has overtaken Reebok in athletic footwear sales.īut the recession severely hampered boating sales, and Boston Whaler has "not been profitable" for Reebok, said Reebok Spokeswoman Kate Burnham. ![]()
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