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Thursday, March 23, 2023

OneWater (NASDAQ: ONEW) Buy Denison Yachting

OneWater Marine Inc. (NASDAQ: ONEW) has inked an agreement to buy Denison Yachting. The acquisition of Denison will grow the Company’s presence into the superyacht category and ancillary yacht service offerings, in addition to yacht brokerage and new boat sales. This acquisition will continue to push forward OneWater’s growth and diversification strategy, considerably boosting product portfolio and customer reach.

Denison has proudly served as a champion in the yachting industry for three generations. It has over 70 years of yachting experience and knowledge. According to data published by Boat International, Denison had sales above $80 million in the calendar year 2021 and was positioned no. 1 in superyacht global sales. Denison represents a variety of well-known brands as an authorized dealer.

OneWater stated that it will continue to benefit from record demand and a rising backlog as it enters the second fiscal quarter. Orders for both OneWater and Denison at the Miami Boat Show were off the charts, confirming their joint position as the preeminent maritime merchant of choice for everything from superyachts and yachts to typical boat sales, spares, and servicing. In the future years, it hopes to further strengthen its market leadership position.

Furthermore, Denison Yachting’s President stated that the strong consumer need continues to drive its expansion and reinforces its status as industry experts throughout the United States, Europe, and the Mediterranean. Moreover, in the world of yachting, Denison’s team of skilled yacht brokers is unrivaled.

Additionally, the President of Denison added that all credit goes to OneWater’s tools, resources, and support. Their dedication to providing exceptional client service will be hastened. Denison Yachting is thrilled to be a part of the OneWater family, and it is looking forward to what the future holds for it.

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