boatingbusiness.com
MAY 2023
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BENETEAU'S HOUSING DIVISION FOR SALE
News
Fossil-free cruising 7% sales increase Profitability edges closer pages 1-11
Inland Waterways Groupe Beneteau has entered exclusive negotiations with motorhome and caravan manufacturer Trigano, for the sale of its housing business. The sale will be based on Trigano taking over full control of its Group Beneteau’s subsidiary Bio Habitat, including the O’Hara, IRM and Coco Sweet brands, as well as all of its employees in France and Italy, and the current leadership team. This proposed sale will enable Groupe Beneteau to focus its development on the boat markets with the aim of accelerating the growth and premiumisation of its Boat Division’s nine brands across four market segments -
8 Group Beneteau is hoping to sell its Housing Division
dayboating, real estate on the water, monohull sailing and multihull sailing. The company says it will also focus its development, innovations and continued pursuit of excellence on the boat market, while moving forward with its mission, ‘Bringing Dreams to Water’: facilitating access to the world of boating for as many people as possible, by creating simple, innovative and sustainable solutions for life.” The sale could be completed by the end of 2023. Revenues for 2022 for the Housing Division were 257.2 million euros, up 41% on 2021’s figure of 182.4 million euros.
Marina group enters administration The Marine and Property Group Ltd (MPG) has entered administration. Damian Webb and Chris Lewis, of audit, tax, and consulting adviser RSM UK, have been appointed as administrators of the company. The Marine and Property Group Ltd is part of The Marine Group, a group of companies run by Switzerland-based Christopher Odling-Smee. The firms between them operate several marinas in Wales and also develop residential and commercial properties. Several of the firms have been in and out of administration in recent years or faced actions to have them dissolved. A letter has been sent to berth holders stating the latest administration only affects MPG. “All other group companies are unaffected by the
Technology transfer New system Next level automation pages 16-19
Sustainability
administration and should to continue to trade as normal,” said the letter. “The administration has been put in place at the holding group level to assist in the on-going refinancing of the group.” The letter also stated that it remains business as usual for the marinas with no changes to berthing contracts or related services. Several reports have been previously made regarding unpaid wages and poor site maintenance. Berth holders had threatened to not pay their mooring fees, equipment was impounded by bailiffs and there were legal disputes with contractors. Earlier this year it was reported that MPG was planning to raise £35m from a new corporate bond which would address cashflow issues.
Recyclable racing yacht Sustainable mooring Cutting-edge solution pages 20-25
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