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Mercury Marine has acquired Paynes Marine Supply, Inc., one of Canada’s leading national wholesale distributors of quality marine supplies, based in British Columbia. The news was announced in a press release from marine engine and accessories headquartered in Fond du Lac, Wis.
The acquisition “will allow Mercury Marine to grow its global parts and accessories distribution network and better serve customers across Canada,” according to the release. Payne’s Marine reported revenue of more than $22 million (CAD) in 2015. Terms of the deal were not disclosed.
“We continue to look for opportunities to grow our distribution channels around the world, and Western Canada is one of the areas that we had targeted for growth,” said Mike Gyorog, Mercury Marine vice president global service and marine parts and accessories, in the release. “Adding Paynes Supply and its well-established distribution channels will allow us to better serve our customers.”
Paynes Marine Supply Inc., Westport Sales Ltd., and Paynes Distributors Inc., comprise Paynes Marine. The company reportedly offers more than 34,000 marine products and has three warehouse facilities in British Columbia, as well as one facility in Oakville, Ontario.
“Having Paynes Marine in our portfolio will not only fortify our distribution networks in Canada, but will also allow us to leverage their knowledge in a variety of channels such as big boats, sail boats and government applications,” said Georges Jalbert, Mercury Marine Canada general manager, in the release.
Payne’s Marine has about 50 employees who will all be transitioned into Mercury Marine, the release stated.