PHOTO COURTESY OF BRUNSWICK CORP
A recent acquisition of Navico by Brunswick Corp. for $1.05 billion brings the parent company of Lowrance, B&G, Simrad and C-MAP under the umbrella of Brunswick’s Advanced Systems Group, contributing to the company’s Parts and Accessories segment by adding a suite of brands that offer power management, digital control, monitoring and networked devices.
“The acquisition of Navico and its award-winning brands will immediately accelerate Brunswick’s ACES — autonomy, connectivity, electrification and shared access — strategy and support our vision to deliver distinctive new products and technology-enabled experiences,” CEO Dave Foulkes said in a statement.
Navico, a formerly privately held and owned company, reported a revenue of $470 million for the 12-month period ending May 31. Its inclusion in the Brunswick Corporation promises to boost returns for Brunswick’s Parts and Accessories segment.
“After a strong period of growth, we are very excited about joining the Brunswick family to further strengthen our offerings and support our customers going forward,” says Navico CEO and President Knut Frostad. “On behalf of everyone at Navico, we cannot wait to begin our journey with Brunswick and share our passion and dedication with their team.”
