Brunswick Corp. announced today, May 26, that it completed the sale of its bowling products business to BlueArc Capital Management LLC, a private investment firm based in Atlanta.
Terms of the transaction were not disclosed.
“We are pleased that the buyer is a long-term investor and that the Brunswick name and all that it stands for will carry on and continue to set the standard in the bowling industry,” Brunswick chairman and CEO Dustan E. McCoy said in a statement. In 2014, Brunswick completed the sale of its retail bowling centers to Bowlmor AMF and now reports the historical results of both the bowling retail and products businesses as discontinued operations. Brunswick anticipates net proceeds from both of these sales actions, which reflect current estimates of taxes and liabilities yet to be paid, to be in the range of $270 million to $290 million that was provided in the company’s original projections. Brunswick’s capital strategy prioritizes growth investments and acquisitions in the marine and fitness segments, maintaining a strong balance sheet and returning cash to shareholders, McCoy reiterated.

Just to add a little bit to what Nick mentioned, the new owners described their investment strategy as more in-line with what Warren Buffett does with Berkshire Hathaway where they find successful companies to purchase and assist them in driving innovation. This could allow for some experimentation that wasn't open to us before due to it being lost in the corporate world of marine.

Obviously, time will tell whether this will help or hurt Brunswick Bowling Products and bowling as a whole, but I am optimistic that we are now in a position to do some exciting things going forward.

Better learn.

Muskegon only averages 93 more inches of snow per year than you are used to.

Maybe you could convince the new owners to move the office to San Diego.

I'll check my closet. I do own gloves, not sure why.

Everyone should have a plow.  It's the gun rack of snow country.

It will definitely be different. Warm clothes, snow blower, and neighbors houses that aren't 20' away.

No, everything we have been doing we will keep on doing.

Strange how they found that additive for the coverstocks as they put the division up for sale.

There is nothing new, just marketing/renaming. Same for all companies. Additives is the new hot word for the common bowlers not the industry.

Truth.