One unexpected benefit to the COVID-19 pandemic in the US has been that many consumers have rediscovered a love for the outdoors. People – seeking safe ways to hold gatherings with family and friends or looking to “get away” to decompress from the stresses brought on by the pandemic – have embraced a wide range of outdoor activities, from biking to camping. Fishing and water sports have also seen an increase in activity as the US’s long coastline and ample numbers of rivers and lakes provide plenty of opportunities for recreation. A recent acquisition and capacity expansion indicates that many feel that this trend will continue even as the pandemic recedes.
Recently, Wild River Marine Group, one of the nation’s suppliers of marine craft, announced that it was acquiring Hatteras Yachts, a manufacturer of motor yachts and sport fishing boats. Furthermore, as part of the deal, Wild River Marine Group will open a new manufacturing center at Hatteras Yachts’ existing production center, boosting its ability to make a wide range of marine craft.
These moves will also benefit Wild River Marine Group’s corporate parent, Bass Pro Shops – one of the nation’s leading retailer of outdoor products, including boats and fishing equipment. By expanding its production network, Bass Pro Shops will be able to offer a wider range of craft to its customers – both anglers and those simply looking to get out on the water to swim or catch some rays.
For more information and discussion of opportunities, see The Freedonia Group’s study on the topic, Recreational Boating in the US.