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Off The Hook Yachts Expands into the Caribbean & Latin America Through Strategic Agreement with Puerto Rico’s CFR Yacht Sales
Globenewswire· 2026-01-26 13:30
Core Insights - Off The Hook YS Inc. has announced a strategic partnership with CFR Yacht Sales to expand into the Caribbean and Latin American markets, aiming for substantial year-over-year revenue growth [1][4] Company Overview - Off The Hook YS Inc. is the largest buyer and seller of pre-owned boats in America, founded in 2012, and operates a vertically integrated marine platform [6] - The company utilizes proprietary AI-powered systems and a national acquisition model, achieving over $100 million in annual boat purchases with a 5X inventory turn [6] Partnership Details - The agreement with CFR Yacht Sales provides Off The Hook with preferred access to select pre-owned vessels and brokerage facilities in Puerto Rico [3] - CFR Yacht Sales, established over 45 years ago, is a leading yacht dealer in the Caribbean, representing several premier yacht brands [2] Market Potential - Puerto Rico is identified as a key gateway to the Caribbean and Latin American recreational boating markets, which are experiencing growth due to increased tourism and demand for high-quality pre-owned vessels [4] - The partnership is expected to enhance Off The Hook's ability to source and move boats efficiently into the global pre-owned market without adding fixed infrastructure [5] Financial Performance - For the first nine months of 2025, Off The Hook reported record revenue of $82.6 million, reflecting a 19.3% year-over-year increase [5] - The company anticipates full-year 2026 revenue to be between $140 million and $145 million as it continues its disciplined growth strategy [5]