Genmar Holdings, Inc. was the second largest manufacturer of recreational motor boats, founded in 1978. It was headquartered in

Minneapolis, Minnesota Minneapolis is a city in Hennepin County, Minnesota, United States, and its county seat. With a population of 429,954 as of the 2020 United States census, 2020 census, it is the state's List of cities in Minnesota, most populous city. Locat ...

with offices in

Little Falls, Minnesota Little Falls is a city and the county seat of Morrison County, Minnesota, United States, near the geographic center of the state. The population was 9,140 at the 2020 United States census, 2020 census, up from 8,343 in 2010 United States census ...

and

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. In 2009, the company filed for

Chapter 11 Bankruptcy Chapter 11 of the United States Bankruptcy Code ( Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, w ...

Holdings

It owned the Aquasport, Carver Yachts, Champion Boats, Crestliner, Glastron,

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, Larson Boats, Lowe Boats, Scarab Boats, Trojan Yachts, and,

Wellcraft Wellcraft is a brand of American powerboats. It was founded in 1955, making wooden runabouts. The company is owned by Groupe Beneteau, part of its Rec Boat subsidiary. Acquisitions In 1982, Wellcraft purchased California Yachts from the Marsha ...

brands.

Major transactions

* In 2001, Genmar sold

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in an $80M cash transaction. *In 2010, PBH Marine Group bought 11 brands, including Ranger Boats, Stratos Boats, Champion, Wellcraft, Four Winns, Larson and Glastron out of bankruptcy for $70 million. *Platinum Equity bought the Ranger and Stratos lines of business in February 2010. *The Carver Yachts and Marquis Yachts assets were purchased for $6.05 million by J&D Acquisitions LLC, a company created by former Genmar owner Irwin Jacobs, along with investor

John Paul DeJoria John Paul Jones DeJoria (born April 13, 1944) is an American billionaire businessman, best known as a co-founder of the Paul Mitchell line of hair products and The Patrón Spirits Company. DeJoria has been called an example of the American Drea ...

References

{{Minnesota Corporations American boat builders Defunct companies based in Minnesota Holding companies of the United States Holding companies established in 1978