Malibu Buys Cobalt

Iconic Watersports Maker Buys Iconic Runabout and Cruiser Builder

As reported by Soundings Trade Only Today, Malibu Boats entered into "a definitive agreement" to buy privately-owned Cobalt Boats for $130 million.

The agreement is subject to adjustment for any settlement or judgement in connection with pending patent litigation between Cobalt and Sea Ray Boats, which is owned by Brunswick Corp.

The combined business is anticipated to deliver approximately $7.5 million in synergies and operational improvements, expected to be realized by the fourth year post-closing, and approximately $18 million in expected tax benefits.

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