MasterCraft Boat Holdings, Inc. (MCFT) recently get a hold on a boat manufacturing facility in Merritt island, Florida. The purchase was through its wholly owned subsidiary MasterCraft Boat Company, LLC (“MasterCraft”).
MasterCraft is intending establishing a dedicated manufacturing facility in that newly purchased property. MasterCraft aims to achieve long term growth of its recently launched Aviara brand in that facility.
Aviara emerged as a premium day boat brand in the industry after commencing production in July 2019. The brand designs, manufactures, markets 32 to 40-feet long day boats in MasterCraft’s Vonore, TN manufacturing facility. The new facility purchased by MasterCraft is comprise of a production facility spread over 38 acres of land. It has 140,000 square feet of dedicated production space available and also has an access to water. All this makes the facility suitable for the Aviara brand to grow quickly and it also allow the company to further expand its integration vertically.
Company’s long term growth strategy is rooted in the Aviara brand as key component, said Fred Brightbill, Chief Executive Officer and Chairman of MasterCraft Boat Holdings. It will help the company to provide customers and their families with the best experience on the water. The purchase will make the company able to expand the overall ability and efficiency of Aviara brand with a boat manufacturing facility that is already well established. It will also provide MasterCraft brand with increased capacity and productivity.
MasterCraft is expecting new Aviara facility to start operating in its third fiscal quarter that will be in early 2021. The new facility will accelerate the growth as well as production of the AV32, AV36 and AV40 models of Aviara brand which are high in demands.
Aviara facility will provide MasterCraft with an access to workforce having expertise in boat manufacturing. And having such a large scale facility to specifically manufacture Aviarabrand will allow the company to quickly and efficiently increase its capacity and will be a better use of its capital, concluded Brightbill.