Sunseeker sold to Chinese

Dalian Wanda Group snaps up iconic British luxury-boat brand and flags Asian growth

China’s largest premier commercial property and entertainment conglomerate, Dalian Wanda Group, has announced it’s entered into a definitive agreement under which it will acquire a majority shareholding of 91.81 per cent in the famous UK luxury motor-yacht marque Sunseeker, with the existing management acquiring the remaining 8.19 per cent of shares.

The deal has a total investment value of almost AUS$533 million (GBP320 million) at the time of writing and is expected to close by mid-August.

Needless to say, Sunseeker has been a very popular luxury motor-yacht brand in Australia over the years, thanks to the very strong backing from (Alf) Barbagallo Marine in WA.

A new Manhattan 53 was displayed at last month's Sanctuary Cove boat show, the Sydney boat show in August will have a strong Sunseeker presence, and as we publish this (June 20, 2013) there were 160 matches for "Sunseeker" at our BoatPoint and boatsales sites under new- and used-boat searches.

FLAGGING ASIAN GROWTH

“Acquiring Sunseeker deepens Wanda’s international influence, further enhances our position in the global luxury, entertainment and tourism markets, and represents an important step forward for the overall development of our business," said Wanda Chairman Wang Jianlin on the Sunseeker acquisition.

“With the committed support of Wanda, Sunseeker is well-placed to take full advantage of opportunities in China, one of the world’s fastest growing luxury-yacht markets. We are confident that this will bring Sunseeker’s business to the next level.

“As a global brand in the luxury motor-yacht sector, with a rich history, Sunseeker is synonymous with quality and design leadership, and dedication to brand excellence.

“Wanda recognises the importance of Sunseeker’s investment in innovation, the quality craftsmanship produced by its skilled workforce and its commitment to using the world’s best components. We are committed to long-term investment in the Sunseeker business, its people and its iconic brand,” Jianlin added.

BRITISH YARD & CO. REMAIN

Headquartered in the UK, Sunseeker is one of the world's pre-eminent luxury motor-yacht manufacturers. Its boats, ranging from 40 feet to 40 metres in length, are the preferred playthings of the rich and famous, Formula One drivers and feature in James Bond movies usually in a boat chase.

Under Wanda ownership, Sunseeker will remain a British company, headquartered in Poole, Dorset, and will maintain its existing production bases in the UK along with its current workforce.

The existing management will remain on the Sunseeker boards and Mr. Robert Braithwaite, the founder of the company, will continue to be involved in the management of the business, providing continuity and a strong platform for the new-model program currently being developed in Poole.

Wanda says it is fully committed to “supporting Sunseeker’s superior products, its rich heritage and its premium brand, which will be further enhanced by its continued investment.”

VIEW FROM THE UK

“We are thrilled to be joining the Wanda family. Support from Wanda will be instrumental in enabling Sunseeker to unlock the enormous potential of China’s rapidly expanding luxury-yacht market,” Stewart McIntyre, Managing Director of Sunseeker International Ltd, commented.

“This investment will provide an excellent foundation for Sunseeker's next phase of growth. Wanda’s history of managing global brands after acquisition makes clear that it will continue to invest in Sunseeker and support our management team as we take the company to the next stage of development,” he added.

Over the next few years, China and other Asian markets are expected to contribute significantly to global growth in the luxury-yacht sector. The Dalian Wanda Group was founded in 1988 and operates in four major industries, including commercial properties, luxury hotels, culture & tourism, and department store chain.

Luxury boats are now a part of the Chinese company’s massive and expanding global-asset portfolio.

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Sunseeker sold to Chinese

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