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Winnebago Industries completes acquisition of Barletta Pontoon

Winnebago Industries completes acquisition of Barletta Pontoon

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Winnebago Industries has completed an agreement with Barletta Pontoon Boats to expand its watercraft lines again, company officials announced on Aug. 31.

Winnebago Industries announced on Aug. 31 that it has completed its acquisition of Barletta Pontoon Boats, the industry’s fastest-growing, premium pontoon boat manufacturer.

Consideration paid included $255 million in cash plus Winnebago shares. Winnebago will pay an additional $15 million in Winnebago Industries shares, contingent upon Barletta’s achievement of performance milestones at the end of calendar year 2021. As previously announced, certain growth objectives, if achieved through calendar years 2022 and 2023, provide the opportunity for up to $50 million in additional cash consideration.

“This acquisition of Barletta extends Winnebago Industries’ marine platform into one of the fastest-growing boating segments, advances our ongoing evolution into a premier outdoor lifestyle company, and is expected to drive significant financial accretion,” Winnebago Industries President and CEO Michael Happe said. “Barletta’s commitment to quality, innovation, and service in addition to their strong dealer relationships has allowed them to become the fastest-growing pontoon boat manufacturer in the industry and makes them a natural fit into our portfolio. We are excited to work with the talented Barletta team and their high-quality dealer partners to bring our now extended portfolio of premium products to families looking to create great outdoor experiences on land or on water and drive new growth opportunities and significant value creation for our employees and shareholders.”

Lazard acted as the exclusive financial advisor to Winnebago and Faegre Drinker Biddle & Reath LLP served as legal advisor.

Winnebago is a leading North American manufacturer of outdoor lifestyle products under the Winnebago, Grand Design, Chris-Craft, Newmar and Barletta brands, which are used primarily in leisure travel and outdoor recreation activities. The Company builds quality motorhomes, travel trailers, fifth wheel products, boats and commercial community outreach vehicles. Winnebago Industries has multiple facilities in Iowa, Indiana, Minnesota, and Florida.

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