Yanmar Group acquires VETUS
Global marine engine and equipment manufacturer, Yanmar Group, has acquired Netherlands based marine equipment producer, VETUS.
VETUS, which manufactures boat equipment systems in-house for pleasure craft and small commercial vessels, is owned entirely by Yanmar. The company will retain its brand name and current business line, including engines.
Yanmar says it hopes the acquisition will strengthen its footprint in the marine industry. Brands of the VETUS Group, Maxwell and Marex, will also help Yanmar strengthen its presence in the sail and powerboat markets, as well as the superyacht industry.
Geert Jan Mantel, CEO of Yanmar Europe, said: “We expect this merger to be profitable for both brands. Together, we will be able to further strengthen our presence in the leisure craft market and fill in each other’s ‘gaps’. In today’s stagnating economy, we both see partnership as one of the best strategic ways to grow.”
Marcel Borsboom, CEO of VETUS, added: “VETUS is proud to become a member of the Yanmar group of companies. Together, we will create a powerhouse in the industry, from which all our customers and the marine sector in general will benefit. Being two strong, profitable companies, we enter the future with great confidence.”
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