Big Law

The Outdoor Brand Winnebago Acquires Barletta Pontoon Boats

Winnebago Industries, Inc. (NYSE: WGO), a leading outdoor lifestyle product manufacturer, today announced that it has completed its previously announced acquisition of Barletta Pontoon Boats (“Barletta”), the industry’s fastest-growing, premium pontoon boat manufacturer. Consideration paid included $255 million in cash and Winnebago Industries shares. Winnebago Industries will pay an additional $15 million in Winnebago Industries shares, contingent upon Barletta’s achievement of performance milestones at the end of calendar 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,” commented Michael Happe, Winnebago Industries President and Chief Executive Officer. “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.”

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