July 2, 2019
MarineMax and Azimut | Benetti Group announce their agreement to expand North American presence of Benetti Yachts and acquire Fraser Yachts Group from the Italian-based Azimut | Benetti Group.
"We are very excited about adding Fraser, and its team, to the MarineMax family. The acquisition of Fraser is significant for MarineMax as it dramatically increases our presence and strength in the strategically important superyacht category," explains Brett McGill, Chief Executive Officer and President of MarineMax. "We are also very excited to add the Benetti Class of yachts to our luxury motoryacht offering. The history and product of Benetti separates the brand from other yachts and will present larger and more luxurious options to many of our customers, who are looking for that next step.”
Fraser, founded in 1947, is devoted to delivering the highest levels of luxury by facilitating rare and extraordinary experiences. They are a world leader in yacht brokerage, yacht charter, yacht management, crew placement and new build consultation. Based in Monaco, Fraser operates through 20 offices around the world with over 160 team members. The entire Fraser team will remain in place and continue to manage activities. Additionally, current directors Paolo Vitelli and Roberto Giorgi will remain with Fraser in an advisory capacity, lending their years of invaluable experience.
Paolo Vitelli, Chief Executive Officer and Chairman of the Azimut/Benetti Group, stated, “MarineMax has been a valued partner of the Group. MarineMax’s unrivaled success through many years makes it the best possible owner of Fraser for the future. Strategically, becoming independent from the Group will favor the development of the commercial relationship of Fraser around the world.”
Azimut, founded in 1969 by Paolo Vitelli, acquired Benetti in 1985. The Azimut/Benetti Group is annually ranked as the largest motoryacht builder in the world and known best for luxurious designs intertwined with comfort, innovative technology, and top-notch safety features. MarineMax has represented the Azimut brand in the United States since 2006.
“Fraser has been outperforming the market over the last 5 years, closing more transactions for clients than any other provider and beating Fraser’s own 10-year records along the way, “stated Raphael Sauleau, Fraser CEO. “This alliance will enable us to further grow our footprint across North America and share with our clients an extended range, and depth, of 24 meters+ (79 foot +) yacht services, support and guidance including Yacht Management, Charter Management, Crew placement and Charter vacations,” said Chuck Cashman, Chief Revenue Office of MarineMax.
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