Benzinga | Oct 5, 2021 10:48AM EDT

MarineMax To Acquire Intrepid Powerboats For Undisclosed Sum

* Recreational boat and yacht retailer MarineMax Inc (NYSE:HZO) has agreed to acquire Intrepid Powerboats for an undisclosed sum.

* Florida-based Intrepid, a producer of customized boats, follows a direct-to-consumer distribution model and generated revenue of about $60 million in the last twelve months.

* MarineMax expects to close the deal before December 31, 2021, and to be accretive in its first full twelve-month period.

* MarineMax held $200.1 million in cash and equivalents as of June 30, 2021.

* Price Action: HZO shares are trading higher by 1.64% at $51.44 on the last check Tuesday.