MasterCraft announced today its acquisition of Marine Products Corp., the builder of Chaparral and Robalo boats. Upon closing, MasterCraft shareholders will own 66.5% of the combined company, and MPC shareholders will own 33.5%.
The transaction was unanimously approved by the boards of both companies and a special committee of the MPC board. The transaction is expected to be financed through combined cash on hand.
"Today marks an exciting and transformational step for MasterCraft and Marine Products as we continue shaping the future of the marine industry together," MasterCraft CEO Brad Nelson said in a statement. "We have long admired Marine Products and the success its team has achieved in creating a leading brand for recreational boaters with Chaparral and a leader in sportfishing boats with Robalo."
Added MPC chief executive Ben Palmer: "This transaction marks an exciting new chapter for Chaparral and Robalo, and is a testament to the hard work and dedication of our employees. We believe that MasterCraft will be a great steward of the combined business and an enthusiastic partner to our exceptional dealers and suppliers."
Nelson will serve as CEO of the combined company, and MasterCraft chief financial officer Scott Kent will serve as CFO. MasterCraft said it expects to maintain Chaparral and Robalo leadership, brands and employees as a separate operating unit.
The transaction is expected to close in the second calendar quarter.
In a separate release, MasterCraft today reported second quarter fiscal-year 2026 financials. Net sales for the quarter were $71.8 million, up $8.4 million, or 13.2%, year-over-year.Marine Products today reported fourth-quarter and full-year 2025 financial results, with net sales increasing 35% year-over-year to $64.6 million.