Benzinga | Jul 9, 2021 11:33AM EDT

Freedom Boat Club Expands To Spain By Acquiring Fanautic For Undisclosed Sum

* Freedom Boat Club, a division of Brunswick Corporation (NYSE:BC), has acquired Fanautic Club for an undisclosed sum.

* Fanautic boat club has 23 locations in major coastal cities and tourist centers across Spain. It currently serves more than 600 members.

* The acquisition expands Freedom's presence in Europe, following France and the United Kingdom.

* Of the 23 locations, six will be owned and operated as corporate locations, and 17 will continue to be franchisee owned and operated.

* "Expanding our presence across tier-one European markets is consistent with the aggressive shared-access growth plans that our leadership team outlined during Brunswick's recent Investor Day presentation," said Jason Worthy, of Boating Services, EMEA.

* Fanautic deal marks Freedom Boat Club Corporate Team' fourth acquisition in over a year.

* Brunswick had cash and marketable securities of $488.9 million at the end of first quarter of FY21.

* Price action: BC shares are trading higher by 2.31% at $97.35 on the last check Friday.