MarineMax to acquire Aviara from MasterCraft.

MarineMax, a nationwide boat dealer, agreed to acquire Aviara, a manufacturer of luxury dayboats, from MasterCraft, an innovator, designer, manufacturer and marketer of recreational powerboats, in an asset swap deal. Under the terms of the agreement, MasterCraft will transfer ownership of the Aviara brand, including all commercial and operational assets relating to Aviara’s product line, to Cruisers Yachts. As part of the asset exchange, MarineMax will pay for all boats currently on order, in addition to select branding and operational assets, including Aviara’s website, tooling and inventory. MarineMax will also assume Aviara’s customer care, warranty liability and administration. MasterCraft will discontinue operations of the Aviara segment, close its Merritt Island, Florida production facility and offer the property for open market sale. Other financial details of the agreement were not disclosed.