M&A
confidence high
sentiment positive
materiality 0.75
Winnebago buys Barletta Boat for $255M plus earnout; expands marine into pontoon segment
WINNEBAGO INDUSTRIES INC
- Initial consideration $255M ($230M cash + $25M stock); earnout up to $50M cash + $15M stock.
- Barletta 2021E revenue ~$214.6M, EBITDA $26.4M; deal valued ~8.5x EBITDA including tax assets.
- Expected close early fiscal Q1 2022; Barletta to operate as distinct unit; Bill Fenech remains President.
- Acquisition accretive to cash EPS and EBITDA margins starting year one; new Marine segment includes Chris-Craft.
- Barletta ranked top-10 U.S. pontoon maker by share; 125 dealer locations across U.S. and Canada.