Malibu moves into fishing boats via $US100m buy-out

Ski boat maker Malibu is diversifying into outboard fishing boats, announcing that it has struck a deal with S2 Yachts to buy its 41-year-old Pursuit Boats business.

The deal will cost Malibu $US100 million ($A136 million), and is expected to be finalised late this year. From it, Malibu will pick up 15 new fishing and lifestyle-focused models spread across offshore, centre console, and half cabin sport and sport coupe layouts up to 40 feet in length.

Ownership of Florida-based Pursuit Boats gives Malibu a foothold in what the company says is one of the largest and fastest growing segments in the marine industry.

"As a leader in the saltwater outboard fishing segment, Pursuit is an incredible addition to the Malibu family,” Malibu chief executive Jack Springer said.

“The Pursuit brand maintains a strong reputation for luxurious appointments, innovation, and premium quality, and this highly complementary business creates strong strategic opportunities to enhance product development across our portfolio of brands,” he said.

“Together, we have an opportunity to broaden our outboard offering, while leveraging the manufacturing and design expertise of the respective teams to continue to deliver the premium products customers expect."

Pursuit was established in 1977 as a sub-brand of S2 Yachts and introduced its first fibreglass centre console boat in 1991, followed by its first dual-console boat in 1993. In 2009 it expanded its customer service to include restoration of older boats, including fabrics, cabinetry, wiring and electronics.

Pursuit Boats earlier this year appointed Sydney-based Marine Riley as its sole authorised Australian distributor for the brand.

The Pursuits imported here arrive pre-rigged with Yamaha outboards following sea trials at the Florida facility.

The high-end outboard-powered boats are as well suited to serious offshore fishing as they are social boating and coastal cruising with family and friends.