French sail and motor boat manufacturer Groupe Beneteau said it acquired a 60% stake in Slovenian sailing yachts maker Seascape.
The founders of Seascape, Andraz Mihelin and Kristian Hajnsek, will retain 40% of the capital of Seascape, which will be included in the scope of Groupe Beneteau from its acquisition date, the French company said in a statement on Thursday.
“Our acquisition of a stake in Seascape will enable us to offer a selection of small sailing yachts designed for both novice sailors and enthusiasts, often younger and first-time buyers,” the CEO of Groupe Beneteau, Herve Gastinel, said in the statement.
The acquisition is in line with the strategy to ramp up the product range of Groupe Beneteau and will further strengthen the group’s global leadership in the liveaboard monohull sailing segment by including performance cruisers, the French company said.
“Our commitment to our Seascape owners and community remains the same: we will continue to develop sailing boats, events and services in line with the spirit that has been central to our brand’s success while benefiting from Groupe Beneteau’s global scale and expertise,” Mihelin added.
Seascape currently offers four models, from 4.3 to 8 metres, designed by architect Sam Manuard. The company generated revenues of 4.2 million euro ($4.9 million) in 2017.