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Marine Max purchases Fraser Yacht Group from Azimut Benetti

Discussion in 'General Yachting Discussion' started by captholli, Jul 2, 2019.

  1. captholli

    captholli Senior Member

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    I read today that Marine Max has just completed a deal to acquire Fraser Yachts operations in the U.S. and Europe. This will certainly have Marine Max positioned well in the mega yacht market for years to come with the Benetti new build section and hopefully will bring their (Marine Max's) reputation up by being associated with this fine long standing brokerage, management, charter firm. This will be interesting to watch over the next few years.
    Last edited by a moderator: Jul 2, 2019
  2. PacBlue

    PacBlue Senior Member

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    MM - Too big to fail?
  3. Capt J

    Capt J Senior Member

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    Reputation comes from what the company does from within. Marine Max's after the sale support completely sucks at most of their dealerships, the parts department and service departments suck. Marine Max needs to focus on after the sale support instead of simply just the sales department.

    I know of one Marine Max dealership and one of their larger ones, where everytime you call the parts department, you usually get a recording, you leave a message and nobody calls you back despite several phone calls over 2 days, or if someone answers they take down your info and still don't call back within 48 hours, you have to physically drive there and get dicked around for 30 minutes, in order to buy parts from them. Many of their dealerships are like this.
  4. Capt Ralph

    Capt Ralph Senior Member

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    I read this and wanted to put a comment together as Skippy J's post #3.
    All know I have unkind comments for M M also.
    Then a light from above came upon me, Why merge with Fraser Yachts unless you know your company is screwed up and need their management skills to help M M.
    Wow, a M M remake. This could be interesting and a good move if they don't cut corners and cut the correct problematic business models and it's people.
    If M M still has problems after this, They did not follow my previous sentence.
    Good luck to Fraser and M M.
  5. maldwin

    maldwin Senior Member

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    Feels like Costco buying Tiffany’s.
    Best,
    Maldwin
  6. Capt Ralph

    Capt Ralph Senior Member

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    At first, that could come to mind my friend, but may not be a good example after all.

    Have you read what Costco has been doing in fine clothes the last 2 years?
    Unlike M M, Costco does not need to purchase another company to straighten their very profitable business plans.
    Tiffany's would be counter productive.
  7. PacBlue

    PacBlue Senior Member

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    Costco has fine clothes? Who would have known????
    Seems to me all their upscales brands still have that bulk buy tinge...........
  8. German Yachting

    German Yachting Senior Member

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    Weren't they just recently purchased by Azimut Benetti group?
  9. olderboater

    olderboater Senior Member

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    Very seldom does the purchased entity change the culture of the buyer. The majority of time, it's the other way around, although may take time.
  10. maldwin

    maldwin Senior Member

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    I just heard Marine Max has become an MJM dealer as well.
  11. captholli

    captholli Senior Member

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    MJM makes a quality vessel in the overnight / day boat size range. I had a private tour of their production facilities in Boston a couple of years ago and was impressed with the employee's "all in mentality " for quality and was pleasantly surprised in the Q & A process & rigorous sea trials and data collection on each hull with new owner driven options that differed from the previous delivered unit . This company takes quality to the next level and constantly makes adjustments to meet owners wishes and demands for a production builder.
  12. RER

    RER Senior Member

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    For the amount of dough they get I would hope so! ...lol.
  13. maldwin

    maldwin Senior Member

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    Another indication of Marine Max’ desire to move upmarket.
    Best,
    Maldwin
  14. captholli

    captholli Senior Member

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    In an on line article today the merger between the two was deemed "The Odd Couple" Very interesting read from both CEO's perspective as to what is expected from the new marriage and why Azimut Benetti sold to Marine Max . I naturally assumed that the Benetti line being referred to was the "Sail Division" or the smaller LOA vessels but its not. Its the whole Benetti line up to 320 meters. Marine Max says that they have a couple of spec vessels being built for the boat show circuit so this should be very interesting to see the cross pollination of the two.
  15. olderboater

    olderboater Senior Member

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    Basically two agreements in place. One is the purchase by Marine Max of Fraser yachts from Azimut Benetti. That is a purchase of Fraser and their 20 offices in 18 countries.

    The second agreement is granting Marine Max exclusivity for Benetti (on top of the Azimut exclusivity they already had) for North America.

    From a brokerage standpoint, I see this as greatly expanding North America locations and potential sales. I think Benetti's US Market Share will increase.

    Now, the great unknown in my opinion is service. Marine Max has managed Azimut's warranty service and that has worked to the detriment of Azimut's reputation in the US. I would hope that isn't the case with Benetti as the Marine Max level of service for a yacht such as Benetti would be substantially below that expected for a yacht such as Benetti.
  16. Capt J

    Capt J Senior Member

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    Benetti's quality is no better than Azimuts.
  17. captholli

    captholli Senior Member

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    From an engineering standpoint J you are correct. Benetti's mechanical, electrical and plumbing installations leave quite a bit to be desired compared to Northern European builders but the interior joinery and stone work are often outsourced to some of the finest furniture makers and craftsman in Europe so your generalization is off point besides the fact that there aren't any 100 million dollar Muts floating around out there.o_O
  18. Capt Ralph

    Capt Ralph Senior Member

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    I'm sure I've never been in a Benetti.
    Been in the bilges of many others though. Have no idea of the interiors of those many other (spouse'd) high quality brands look like, just the ER and bilges.

    Lip stick on a pig comes to mind when owners talk about the expense and efforts to keep their big boat looking good. Not a clue on how hard it is to keep things working below decks.

    Muts & Mut owners are high on this Modus Operandi.

    Skippy J may be realizing the same as I do, All that fine interior work don't mean but one thing, Keep the lip gloss coming.
  19. Capt Ralph

    Capt Ralph Senior Member

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    Past My last post, I'm still looking forward to better things to help and improve M M.
    Not a clue how it's going to happen but wish them lots-o-luck.
  20. captholli

    captholli Senior Member

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    Benetti has been in the business of building commercial vessels and yachts for 146 years so the "lip stick" only goes so far or high net worth individuals wouldn't sign new build contracts nor purchase these vessels on the used market if they thought that they weren't getting value for their money. The vast majority if not all Italian builders are priced well below their Northern European counterparts per meter and that's where some yachtsman find their sweet spot financially in this sector. If you've never worked on one as an engineer than any judgment in the systems arena would be a bit nebulous at this juncture. Lurssen or Feadship they're not but they are a whole lot of yacht for the money and cant be compared to an Azimut in any way shape or form.

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