MasterCraft Boat Holdings, Inc. Enters into Asset Exchange Agreement with MarineMax for Aviara Brand

Core Viewpoint - MasterCraft Boat Holdings, Inc. has entered into an asset exchange agreement to transfer its Aviara brand and related assets to Cruisers Yachts, a subsidiary of MarineMax, which will allow the company to focus on its core brands and strategic growth initiatives [1][2][3] Group 1: Transaction Details - The agreement involves the transfer of ownership of the Aviara brand, including all commercial and operational assets, to Cruisers Yachts, with MarineMax paying for all boats currently on order and select branding and operational assets [2] - MasterCraft will discontinue operations of the Aviara segment, close its Merritt Island production facility, and market the property for sale [2][3] - The transaction is expected to be completed in the first quarter of fiscal year 2025, subject to customary closing conditions [3][4] Group 2: Strategic Focus - The CEO of MasterCraft stated that this arrangement positions the company to extend its leadership in the MasterCraft, Crest, and Balise brands, optimize its cost structure, and direct resources towards long-term growth initiatives [3] - MarineMax, as the primary U.S. retail distributor for Aviara, is seen as an ideal partner to manage the brand and support existing and future customers [3] Group 3: Financial Reporting - MasterCraft intends to classify the Aviara segment as discontinued operations starting in the first quarter of fiscal year 2025 [4]