MarineMax Acquires Fraser Yachts
The largest U.S. recreational boat retailer, MarineMax, has acquired the Fraser Yacht Group from the Italian-based Azimut-Benetti Group. Fraser is often cited as one of the top superyacht brokerages and is one of the largest yacht service companies in the world. Founded in 1947, Fraser is based in Monaco with 160 employees in 20 locations around the world, with an especially strong presence in Ft. Lauderdale, Florida. The global bases of operation give Fraser a strong foundation for growth and providing services worldwide. All of Fraser’s current employees will remain with the company, as will current directors, Paolo Vitelli and Roberto Giorgi, who will both remain in an advisory capacity.
“The acquisition of Fraser is significant for MarineMax as it dramatically increases our presence and strength in the strategically important superyacht category. Second, it expands our international capabilities and footprint, unlocking other potential future opportunities,” W. Brett McGill, chief executive officer and president of MarineMax, Inc., said. “We are very excited about adding Fraser and its team to MarineMax. Fraser is clearly the leader in the services it offers and we intend that it will operate in the future as it has historically. We are happy that Paolo and Roberto will remain with Fraser as their years of experience are invaluable.”
Azimut was founded in 1969 and purchased Benetti in 1985. Azimut has been represented by MarineMax in the United States since 2006. In addition to the purchase of Fraser, MarineMax further strengthened their relationship with Benetti Yachts by signing a multi-year deal to become the exclusive dealer of Benetti’s yachts in North America. “We are also very excited to add the Benetti Class of yachts to our luxury motoryacht offering. The history and product of Benetti separates the brand from other yachts and will allow for a great migration for many of our customers who are seeking larger and more luxurious yachts,” McGill added.