National boat retailer acquires Port Arrowhead

MarineMax, a national recreational boat retailer, will pay $27.5 million in cash, plus working capital adjustments, in exchange for Port Arrowhead’s operating assets, a large marina, two retail stores and more than 300 boat slips in Missouri and Oklahoma.

Port Arrowhead has a location in Nixa, at Highway 160 and South Street, and Kimberling City, at 348 Nautical Circle.

Port Arrowhead’s $70 million in revenue last year will push MarineMax past the $1 billion mark. The retailer had revenues of $947 million in fiscal year 2005.

The deal is MarineMax’s 17th acquisition since its launch in 1998 from a merger of six smaller dealerships. Port Arrowhead also is the company’s largest acquisition to date.

The transaction is expected to close in the first quarter of next year. It will add seven stores and two states to MarineMax’s existing 71 stores in 17 states.