MarineMax acquires Fraser from Azimut|Benetti
Published: Thursday, 04 July 2019
MarineMax, Inc., the USA’s largest recreational boat and yacht retailer, has entered into an agreement for the acquisition of Fraser from the Italian-basedAzimut|Benetti Group.
Paolo Vitelli, Chief Executive Officer and Chairman of the Azimut|Benetti Group, stated, "MarineMax has been a valued partner of the Group. MarineMax’s unrivalled success through many years makes it the best possible owner of Fraser for the future. Strategically, becoming independent from the Group will favour the development of the commercial relationship of Fraser around the world."
W. Brett McGill, Chief Executive Officer and President of MarineMax, Inc., stated, "The acquisition of Fraser is significant for MarineMax as it dramatically increases our presence and strength in the strategically important superyacht category. Second, it expands our international capabilities and footprint, unlocking other potential future opportunities. We are very excited about adding Fraser and its team to MarineMax. Fraser is clearly the leader in the services it offers and we intend that it will operate in the future as it has historically. We are happy that Paolo Vitelli (CEO and Chairman of Azimut|Benetti Group) and Roberto Giorgi (Chairman of Fraser) will remain with Fraser as their years of experience are invaluable.”
Raphael Sauleau, CEO of Fraser, on the company’s success with Azimut|Benetti Group: "Together with the Azimut|Benetti Group family, the world’s largest yacht constructor for the last 19 years, Fraser has enjoyed a market share of over 24% in terms of the value of yachts sold and almost 20% worldwide share in terms of the number of yachts sold above 24 metres (79 feet) over the last five years. Today, our brokers are outperforming the market, closing more transactions for clients than any other provider and beating Fraser’s own 10-year records along the way. The synergies between MarineMax and Azimut|Benetti Group have for a long time been very powerful and very real – we very much look forward to the next chapter in Fraser’s growth with a
company we know has been built on solid relationships, efficient and transparent business ethics."
On being part of the MarineMax group, Sauleau continues: "Aside from an exciting expansion program, being an integral part of the MarineMax Group is a
reinforcement of Fraser’s own roots. A worldwide company today, Fraser was born in North America, founded by David L Fraser in Cannery Village, Newport Beach, California. The company started from offices in Newport, San Diego, Seattle and, of course, Fort Lauderdale. American yacht owners and charterers account for over 50% of our business today. Our alliance with MarineMax enables us to further grow our footprint across North America. It also allows us to share with MarineMax clients an extended and indepth range of 24 metre+ (79 foot+) large yacht services, support and guidance including yacht management, charter management, crew placement and charter vacations."