UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | April 18, 2016 |
MarineMax, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
Florida | 1-14173 | 59-3496957 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
2600 McCormick Drive, Suite 200, Clearwater, Florida | 33759 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | 727-531-1700 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On April 18, 2016, the Company issued a press release announcing the purchase of substantially all of the assets of Russo’s Marine Mart, Inc. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference in this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
Press release of MarineMax, Inc. dated April 18, 2016.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MarineMax, Inc. | ||||
April 21, 2016 | By: |
Michael H. McLamb
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Name: Michael H. McLamb | ||||
Title: Executive Vice President, Chief Financial Officer and Secretary |
Exhibit Index
Exhibit No. | Description | |
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99.1
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Press release of MarineMax, Inc. dated April 18, 2016. |
MarineMax Expands In The Northeast
~ Acquires Boston-Based Russo Marine ~
CLEARWATER, FL (BUSINESS WIRE) April 18, 2016 MarineMax, Inc. (NYSE: HZO News), the nations largest recreational boat and yacht retailer, today announced that it has completed the acquisition of substantially all the assets of Russo Marine (Russo).
With fiscal 2015 revenue exceeding $35 million, Russo is the largest privately-owned boat dealer in the Northeast. Russo operates three locations which serve the Massachusetts and Rhode Island coastal markets. Russo, a third-generation marine dealership, has served these important boating markets for over 75 years. The brands represented by Russo include Sea Ray, Meridian, Boston Whaler and Sailfish.
MarineMax acquired all of the assets of Russo. The shareholders of Russo, who will remain as its operators, received an initial cash payment at closing and have the ability to earn additional payments, subject to achieving certain performance metrics in the future.
William H. McGill, Jr., Chairman, President, and Chief Executive Officer of MarineMax, Inc. stated, Russo Marine joining the MarineMax team provides us with a valuable presence in the important Boston and related coastal markets. With the addition of Russo, we further strengthen our position to serve the many boaters that migrate along the Atlantic seaboard from the Northeast to Florida. Larry Russo, Sr. is well respected in our industry and we are very proud to welcome him, his family and the Russo Marine team into MarineMax. With Russos similar customer-centric strategies, we firmly believe that together we will be even stronger serving boating enthusiasts in one of the most important marine markets in the country.
Larry Russo, Sr., President of Russo Marine, stated, The Russo family is both energized and excited to join forces with the nations premier marine retailer. This strategic move aligns us with the industry leader and will give us access to additional markets, products and services. For many years, our two companies have shared a common vision for operational excellence and for improving the customers experience. This is an exceptional opportunity for us to take the marine business to the next level in New England.
~ more ~
About MarineMax
Headquartered in Clearwater, Florida, MarineMax is the nations largest recreational boat and yacht retailer. Focused on premium brands, such as Sea Ray, Boston Whaler, Meridian, Hatteras, Azimut Yachts, Ocean Alexander, Galeon, Grady-White, Harris, Crest, Scout, Sailfish, Sea Pro, Scarab Jet Boats, Aquila, and Nautique, MarineMax sells new and used recreational boats and related marine products and services as well as provides yacht brokerage and charter services. MarineMax currently has 56 retail locations in Alabama, California, Connecticut, Florida, Georgia, Maryland, Massachusetts, Minnesota, Missouri, New Jersey, New York, North Carolina, Ohio, Oklahoma, Rhode Island, and Texas and operates MarineMax Vacations in Tortola, British Virgin Islands. MarineMax is a New York Stock Exchange-listed company. For more information, please visit www.marinemax.com.
Forward Looking Statement
Certain statements in this press release are forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the additional payments, and our future strength in operating in the Northeast. These statements are based on current expectations, forecasts, risks, uncertainties and assumptions that may cause actual results to differ materially from expectations as of the date of this release. These risks, assumptions and uncertainties include the assumption the Companys abilities to accomplish its goals and strategies, the success of the acquisition, synergies expected from the acquisition, the ease of integration of Russo Marine, anticipated revenue enhancements, fiscal 2016 earnings per diluted share contribution from the acquisition, general economic conditions and the level of consumer spending, and numerous other factors identified in the Companys Form 10-K and other filings with the Securities and Exchange Commission. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: | Michael H. McLamb Chief Financial Officer MarineMax, Inc. Abbey Heimensen Public Relations 727.531.1700 |
Brad Cohen Investor Relations Integrated Corporate Relations, Inc. 203.682.8211 Susan Hartzell Media Contact Integrated Corporate Relations, Inc. 203.682.8238 |
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