Feb. 5 at 8:51 PM
MasterCraft Boat Holdings announced a definitive cash-and-stock deal to acquire Marine Products Corporation for about
$232.2 million, combining two leading U.S. recreational boat manufacturers. The transaction brings together a diversified brand portfolio including MasterCraft, Crest, Balise, Chaparral, and Robalo. Marine Products shares fell 16% following the announcement.
Under the terms, Marine Products shareholders will receive
$2.43 per share in cash plus 0.232 shares of MasterCraft stock, valuing Marine Products at
$7.79 per share based on MasterCraft’s Feb. 4 closing price. The deal values Marine Products at roughly 7.2x expected EBITDA for the twelve months ending June 30, 2026, after adjustments. Post-closing, MasterCraft shareholders will own about 66.5% of the combined company and Marine Products shareholders 33.5%.
$MCFT $MPX